Rumble Acquires Northern Data to Strengthen AI Cloud Services

Key Points

1. Rumble's offer involves issuing 2,319 new shares, giving Northern Data shareholders approximately 33.3% ownership of Rumble.

2. Tether, holding a 54% stake in Northern Data, supports the deal and will become Rumble's largest Class A shareholder with a multi-year GPU supply commitment.

3. Northern Data reported a 72% revenue increase to $109.8 million in H1 2025, driven by Taiga Cloud and Peak Mining, with mining revenue up 49% to $62.3 million.

4. The deal requires Northern Data to sell its Bitcoin mining division, Peak Mining, to Elektron Energy for up to $235 million.

5. Rumble has accumulated 210.8 BTC ($25.6 million) and plans to integrate Northern Data's GPU services, including 20,000 Nvidia GPUs and 850 MW capacity, with an additional 180 MW expansion planned in Georgia.

6. The transaction is expected to close in H2 2025, pending regulatory approvals in the US and Germany.