MARA’s acquisition of Long Ridge, part of its data-center infrastructure expansion, received Federal Energy Regulatory Commission approval; closing remains pending.

MARA’s Form 10-Q states that the Long Ridge acquisition received Federal Energy Regulatory Commission (FERC) approval after quarter-end. Management expected closing in the coming weeks, but the filing still describes an acquisition awaiting completion rather than an already owned operating asset.

The company frames Long Ridge as part of its expansion into data-center infrastructure, while retaining bitcoin mining as a core business. Its filing reports 6,916 bitcoin mined during the nine months ended September 30, 2026, and approximately 435,000 mining rigs globally at quarter-end, including its share of an equity-method investment; these are mining assets, not AI GPUs.

A separate strategic agreement with Starwood Digital Ventures covers developing, financing and operating digital infrastructure at selected power-rich sites in MARA’s existing portfolio. MARA would contribute sites and retain up to 50% ownership in new joint ventures, while Starwood would lead engineering, procurement and construction, secure hyperscale tenants and operate the assets; reported progress includes site negotiations, permitting, retrofit work and prospective-tenant discussions.

MARA also disclosed repayment after quarter-end of all $750 million borrowed under bitcoin-collateralized loans, whose facilities were initially collateralized by 18,750 bitcoin, and authorization of a discretionary share-repurchase program of up to $500 million. These are separate balance-sheet and capital-allocation disclosures, not identified funding terms for the Long Ridge acquisition.