MARA Holdings Inc (NASDAQ:MARA) shares climbed on Thursday morning. This rally follows the company’s announcement of a landmark acquisition.

MARA entered a definitive agreement to acquire Long Ridge Energy & Power LLC from FTAI Infrastructure Inc (NASDAQ:FIP).

Landmark $1.5 Billion Infrastructure Acquisition

The deal carries a total transaction value of approximately $1.5 billion. This includes the assumption of at least $785 million in debt. Barclays is backstopping the transaction with a bridge loan.

The acquisition includes a 505-megawatt combined-cycle gas power plant in Hannibal, Ohio.

It also includes 1,600 contiguous acres for a digital infrastructure campus.

MARA expects to close the deal in the second half of 2026, subject to regulatory approvals, including clearance under the Hart-Scott-Rodino Act and Federal Energy Regulatory Commission approval.

Expanding Capacity and AI Strategy

The deal increases MARA's owned-and-operated capacity by 65%. The site offers a total potential capacity of over 1 GW.

“Power is the scarce input in AI,” stated Fred Thiel, MARA's chairman and CEO. He noted the company is gaining control of a “highly efficient, contracted energy platform.” Thiel added that the site is “ready for expansion to build a flagship AI campus.”

Financial Gains and Operating Efficiency

The acquisition adds approximately $144 million of annualized adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).

This is based on Long Ridge’s second-half performance in 2025. The facility operates at less than $15/MWh in all-in costs. MARA expects construction for an initial AI buildout to begin in the first half of 2027. The company targets service readiness by mid-2028.

MARA Short Interest Dynamics

Retail traders are also monitoring shifting sentiment. Recent data shows short interest in MARA decreased from 113.18 million to 104.70 million shares. Despite this drop, 36.53% of the float remains short.

MARA Stock Price Activity: MARA Holdings shares were up 11.43% at $11.95 at the time of publication on Thursday, according to Benzinga Pro data.

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