Marathon Digital to Buy Long Ridge Energy for $1.5B, Expanding Power Platform for AI/HPC

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Thiel positioned Long Ridge arsenic an instantly usable plus alternatively than a long-dated improvement project, emphasizing that the field is already operational with existing infrastructure. “This is not earthy onshore with a agelong improvement timelines,” helium said, describing the tract arsenic having the “power,” “land,” “water,” “fuel supply,” and “interconnection” already successful place.

According to Thiel, the Long Ridge Energy Campus would found an AI/HPC information halfway field successful PJM Interconnection, which helium called “one of the astir progressive information halfway and powerfulness markets successful North America.” He said the tract supports “more than 1 gigawatt of full imaginable powerfulness capableness crossed procreation and load,” including “up to 600 gross megawatts for AI HPC and captious IT loads.”

Asset overview and operating illustration

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Management said the assets see a 505 megawatt (MW) nameplate combined rhythm state works and much than 1,600 contiguous acres. Thiel called the works “one of the astir businesslike combined rhythm turbines successful the PJM Interconnection” and said it provides “stable, cash-generative operations.” He besides noted that MARA plans to clasp Long Ridge Energy’s “team of 25 full-time engineers and employees” aft closing.

Thiel said the tract is anchored by MARA’s existing footprint astatine the Hannibal site, wherever the institution already has “200 MW of existing MARA capableness already operating.” He added that the Hannibal determination has seen involvement from “investment-grade prospective AI HPC tenants.”