Rumble Mulls €1B Northern Data Takeover as Peak Mining Set for $235M Sale
Main Idea
Rumble Inc. is considering an all-stock acquisition of Northern Data, a German bitcoin mining and AI data center operator, which includes the sale of Northern Data's Peak Mining unit for up to $235 million.
Key Points
1. Rumble Inc. is exploring an all-stock acquisition of Northern Data, offering 2.319 newly issued Rumble Class A shares for each Northern Data share tendered.
2. Northern Data shareholders would own about 33.3% of the combined company if all outstanding shares are exchanged.
3. Northern Data has signed a non-binding agreement to sell its Peak Mining unit for up to $235 million, with $175 million upfront and the remainder to be paid later.
4. The acquisition would integrate Northern Data's Ardent data-center operations and Taiga GPU-as-a-service platform into Rumble's cloud business.
5. Northern Data owns five data center sites with a potential energized capacity of nearly 850 megawatts.
Description
Rumble Inc. (Nasdaq: RUM), the $2 billion video-sharing and cloud services provider, said it is exploring an all-stock acquisition of Germany’s bitcoin mining and AI data center operator Northern Data. This article is from Theminermag, a trade publication for the cryptocurrency mining industry, focusing on the latest news and research on institutional bitcoin mining companies.
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