MARA Holdings said the Federal Energy Regulatory Commission (FERC) approved its acquisition of Long Ridge Energy & Power, a deal expected to raise the Bitcoin (BTC) miner’s owned generation capacity by more than 300% after closing.
The Long Ridge facility is a combined-cycle natural gas plant rated at 505 megawatts. MARA said FERC’s order found the transaction consistent with the public interest.
The additional generation and acreage are intended to underpin MARA’s expansion into artificial intelligence and high-performance computing infrastructure. MARA has yet to complete the deal and expects to do so in the coming weeks.
