MARA Holdings Details $1.5 Billion Long Ridge Acquisition

The transaction has a base purchase price of approximately $1.5 billion, subject to customary purchase price adjustments. After closing, Long Ridge would become an indirect wholly owned subsidiary of MARA Holdings.

The filing says MARA's forward-looking statements include planned development of digital infrastructure projects, including the Hannibal, Ohio campus, and the anticipated ability to shift between hyperscale and AI workloads and Bitcoin mining at those facilities.

The investor presentation attached to the filing shows Long Ridge had revenue of $174.6 million and adjusted EBITDA of $1.0 billion for the quarter ended March 31, 2026, while MARA reported revenue of $62.0 million and adjusted EBITDA of $25.4 million. It also shows MARA had total assets of $4.95 billion as of March 31, 2026.

The filing says the expected earnings and cash flows from the Long Ridge facility and the expected accretive impact of the transaction to the company's profitability metrics are among the forward-looking statements, and that completion depends on closing conditions and third-party approvals.