MARA Holdings surges 8% as FERC approves Long Ridge power deal

MARA Holdings (MARA.US) surged more than 8% during regular trading to $6.35.

The Federal Energy Regulatory Commission approved the company's acquisition of Long Ridge Energy & Power's natural gas generation assets, determining the transaction serves the public interest.

The deal carries a valuation of approximately $1.51 billion and includes a 505-megawatt nameplate power plant and over 1,600 acres of land, generating about $144 million in annualized adjusted EBITDA. MARA will assume roughly $900 million in debt and plans to secure about $600 million in bitcoin-backed loans, with closing expected by the end of November 2026.

The company said its owned power generation capacity could increase by more than 300% following completion, noting the assets may support future AI and high-performance computing infrastructure development.

Based on public media reports. AI-generated; not investment advice.