Bitcoin Miner Gets FERC OK to Buy OH Gas Plant; PJM Watchdog Loses

Back in May, we told you that FTAI Infrastructure agreed to sell Long Ridge Energy & Power, the 505-megawatt (MW) natural gas-fired power plant and 1,600-acre former Ormet aluminum smelter site in Hannibal (Monroe County), Ohio, to bitcoin miner-turned-AI data center developer MARA Holdings for $1.52 billion (see Bitcoin Miner MARA Buys OH's Long Ridge Gas Plant, Transload Site). The new news is that on Nov. 4, the Federal Energy Regulatory Commission (FERC) approved the sale, finding it "consistent with the public interest." Along the way, FERC turned aside an attempt by PJM's market watchdog to tie strings to the deal. Both sides now say the closing will happen by the end of this month.

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