Bitcoin miner MARA Holdings has signed an agreement to purchase the Long Ridge Energy & Power gas power plant from FTAI Infrastructure for $1.5 billion.

MARA expands its AI infrastructure pipeline by entering into an agreement to acquire Long Ridge Energy & Power, which owns, among other assets, a highly efficient 505 MW nameplate CCGT power plant and over 1,600 contiguous acres in one of the world’s largest AI and data center… pic.twitter.com/YUF9WlfQzP

— MARA (@MARA) April 30, 2026

The deal includes Long Ridge's debt of $785 million, with the remainder to be covered by cash and a loan from Barclays.

According to MARA, the asset is expected to generate approximately $144 million in annual adjusted EBITDA based on projections for the second half of 2025. The company plans to build an integrated digital infrastructure campus with a capacity of over 1 GW on the site.

MARA's CEO Fred Thiel described Long Ridge as a "highly efficient contracted energy platform" that combines generation, fuel supply, grid connectivity, land, water, and fiber optics in one location.

He believes the site will become a flagship campus for AI, as the company is already receiving inquiries from potential tenants in the AI and IT sectors.

MARA announced its pivot towards data centers in February while reporting a loss of $1.7 billion for the fourth quarter of 2025. The company aims to transform from a pure Bitcoin miner into an energy and digital infrastructure entity.

At the end of March, the firm sold 15,133 BTC for $1.1 billion to repurchase its own bonds.

On April 30, MARA's shares closed up nearly 12% at around $12. Over the past six months, the company's stock has risen by 54%.

Source: Yahoo Finance.

MARA is the second-largest public miner by operational hash rate (61.7 EH/s), trailing only Bitdeer (69.5 EH/s). According to BitcoinMiningStock, the hash rate increased by 5.83% over the month.

In terms of Bitcoin production, the company remains the leader in the industry. In April, it mined 736 BTC (+4.39% month-over-month).

Riot's First Revenue from AI

Riot Platforms has for the first time separated its data centers into a distinct business segment. For the first quarter, this segment generated $33.2 million for the company.

Source: Riot.

The company's total revenue for the reporting period was $167.2 million, with $111.9 million coming from Bitcoin mining.

The shift towards AI contributed approximately 20% of Riot's quarterly revenue. A key factor was a long-term agreement with AMD: the chip manufacturer exercised an expansion option, doubling its contracted capacity from 25 MW to 50 MW, with the potential to increase it to 200 MW.

Riot continues to expand its facility in Rockdale, Texas, where AMD's infrastructure is deployed.

The company is also constructing a campus in Corsicana. According to management, it will be able to operate with either one large tenant or multiple clients in the AI, data center, and hyperscaling sectors.

In the first quarter, Riot sold 3,778 BTC but retained 15,679 BTC on its balance sheet, valued at approximately $1.2 billion. This positions the company as the seventh-largest public holder of Bitcoin.

Source: BitcoinTreasuries.

Shares of the company traded at $17.2 at the end of the last trading session, gaining 7.8% in a day, according to Yahoo Finance.

It is worth noting that in the first quarter, public miners sold a record 32,000 BTC — more than in all of 2025.