Mara Acquires 505MW Power Plant for Data Center Expansion

Mara Holdings has initiated the acquisition of a 505MW gas plant in Hannibal, Ohio, from Long Ridge Energy & Power for approximately $1.5 billion, which includes assuming $785 million in debt. This acquisition provides the company with over 1,600 acres of land and immediate access to significant energy resources, including power, water, and fiber, laying the groundwork for a large-scale data center that will initially feature a 200MW capacity. The company anticipates that this project will contribute to its broader data center development strategy and aims to commence construction in the first half of 2027, with operations expected to start in mid-2028.

This strategic acquisition represents a noteworthy shift in the energy and compute landscape, as Mara seeks to bolster its infrastructure in the face of increasing demand for AI and high-performance computing (HPC). By integrating energy generation and data center capabilities, Mara aims to create a flexible and efficient platform to maximize the utility of each megawatt available. The consolidation of energy resources not only fosters greater autonomy in AI-related operations but may reduce dependency on external power sources, aligning with the growing emphasis on energy security and sustainable tech development in the sector.