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Mara company's stock rose today, recording gains of over 10%, after Mara Holdings, a company specializing in Bitcoin mining, announced the signing of an agreement to purchase a power generation plant worth up to $1.5 billion. This step is the latest for the company in expanding its AI infrastructure, transitioning from just Bitcoin mining.
The Bitcoin mining company announced a $1.5 billion deal to build a power plant, and Mara's stock increased significantly.
In a press statement, the Bitcoin mining company announced the signing of a final agreement to acquire Long Ridge Energy from FTA Infrastructure, with the total deal value approaching $1.5 billion, including liabilities of no less than $785 million. The company indicated that the acquisition includes the high-efficiency combined-cycle gas power plant owned by Long Ridge Energy in Ohio, with a nominal capacity of 505 MW, plus over 1,600 connected acres.
MARA's stock rose following this announcement, making it one of the biggest gainers among cryptocurrencies today. The stock is currently trading at around $12, up 13%.