The purchase includes $785 million of existing debt. The remaining amount will be paid in cash and secured with a bridge loan from Barclays. The asset includes a 505 MW gas power plant in Ohio and 1,600 acres of land. According to the press release, the acquisition will generate $144 million annually in adjusted EBITDA. The company will be able to expand its computing power to 2.2 gigawatts, which is enough to supply energy to a city with a population of 2 million people. In March, MARA sold 15,100 BTC for $1.1 billion to repurchase convertible senior notes. Despite this, it remains the fourth-largest public holder of BTC with 38,700 BTC ($3 billion), or 0.2% of the total coin supply.
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Marathon Digital Holdings (MARA) is purchasing Long Ridge Energy Company for $1.5 billion.
The purchase includes $785 million of existing debt. The remaining amount will be paid in cash and secured with a bridge loan from Barclays. The asset includes a 505 MW gas power plant in Ohio and 1,6...