May 02, 2026 | Posted by Abdul-Rahman Oladimeji
Cryptocurrency and HPC data center developer MARA Holdings has signed an agreement to acquire a 505MW combined-cycle gas turbine (CCGT) power plant in Hannibal, Ohio, along with more than 1,600 acres of land suitable for a large-scale data center campus. MARA will acquire the Long Ridge Energy plant from Long Ridge Energy & Power for approximately $1.5 billion, including the assumption of $785 million in debt. The transaction is backed by a bridge loan from Barclays.
Mara said the campus will provide immediate access to power, land, water, and fiber, and could support more than 1GW of total potential capacity across both generation and IT load. According to the company, the development will serve as the cornerstone of its broader data center pipeline. It plans to begin initial buildout in the first half of 2027, with an initial 200MW of capacity expected to be deployed at the site.
“The agreement to acquire Long Ridge Energy is a significant step forward in executing our optimized digital infrastructure strategy,” said Fred Thiel, Mara’s chairman and CEO.
“Power is the scarce input in AI and, with the planned addition of Long Ridge Energy, we are gaining control of a highly efficient, contracted energy platform that has a rare combination of large-scale power, land, water access, fuel supply and grid interconnection in a single location – assets that are increasingly difficult to replicate in today’s market – and is ready for expansion to build a flagship AI campus. By combining energy generation, fuel supply, and compute infrastructure, we are building a differentiated platform designed to maximize the value of every megawatt we control.”