MARA Holdings, Inc. 8-K

What Happened

• MARA Holdings, Inc. (the "Company") filed an 8-K on June 25, 2026 announcing an Equity Purchase Agreement to acquire 100% of the membership interests in Long Ridge Energy & Power LLC ("Long Ridge") from Ohio River Partners Holdco LLC and Ohio River Partners Finance LLC for a base purchase price of approximately $1.5 billion, subject to customary purchase price adjustments.
• After the closing, Long Ridge will become an indirect wholly owned subsidiary of MARA. FTAI Infrastructure Inc. is a party to the agreement for certain specified provisions.

Key Details

• Filing date: June 25, 2026 (Current Report on Form 8-K).
• Target: Long Ridge Energy & Power LLC to be acquired in full.
• Base purchase price: approximately $1.5 billion, subject to customary adjustments.
• An investor presentation describing the Transaction was filed as Exhibit 99.1 with the 8-K.

Why It Matters

• The deal would bring Long Ridge onto MARA’s balance sheet as an indirect wholly owned subsidiary and represents a substantial acquisition given the ~$1.5 billion base price.
• Investors should review the investor presentation and watch for subsequent disclosures (closing conditions, financing, final purchase price adjustments and timing) to understand the transaction's impact on MARA’s financial position and strategy.