Long Ridge acquisition close
Company: Marathon Digital
The claim, verbatim
MARA is acquiring the power business Long Ridge for $1.5 billion enterprise value, funded with Bitcoin-backed debt and by assuming Long Ridge's balance sheet; management said the deal would close after FERC approval, which it expected before year end.
Source (primary)
How Big Could MARA Stock’s Next Fall Be? - Trefis (-, news_article)
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Quote: “MARA is paying for its $1.5 billion purchase of the power business Long Ridge using debt backed by its Bitcoin and by taking over Long Ridge's balance sheet. Management described the $1.5 billion as the deal's enterprise value.”
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Additional evidence
confirms How Big Could MARA Stock’s Next Fall Be? - Trefis
Quote: “MARA is paying for its $1.5 billion purchase of the power business Long Ridge using debt backed by its Bitcoin and by taking over Long Ridge's balance sheet. Management described the $1.5 billion as the deal's enterprise value.”