The U.S. Federal Energy Regulatory Commission approved MARA's acquisition of the Long Ridge power plant.

The U.S. Federal Energy Regulatory Commission (FERC) has approved Bitcoin mining company MARA's acquisition of the Long Ridge natural gas power plant for approximately $1.512 billion. The transaction values the enterprise at approximately $1.512 billion, representing approximately 0.5 GW of generating capacity and approximately $144 million in annualized adjusted EBITDA. MARA will retain approximately $900 million in debt from Long Ridge and will require approximately $610 million in cash, to be covered by approximately $600 million in Bitcoin-collateralized loans drawn down in August. The external closing date for the transaction is November 30. The power plant itself is valued at approximately $1 billion, and the premium paid by MARA corresponds to land, gas wells, railroads, and expansion options.