Rumble, the video-sharing platform, announced a plan to acquire Northern Data, a high-performance computing and bitcoin mining company, in a potential all-stock deal valued at €1 billion ($1.17 billion).
If the acquisition goes through, Northern Data shareholders would receive 2.319 new Class A Rumble shares for each of their shares, giving them a 33.3% stake in the combined company. Tether, a major stablecoin issuer that holds a 54% majority stake in Northern Data, has expressed support for the deal. This would make Tether the single largest holder of Rumble’s Class A stock.
In a separate press release, Northern Data acknowledged the potential offer and indicated a willingness to discuss the terms with Rumble.
A key condition of the proposed deal is the sale of Northern Data’s bitcoin mining division, Peak Mining. A non-binding agreement has been signed to sell Peak Mining to Elektron Energy for up to $235 million, with $175 million paid upfront. The proceeds from this sale would be used to reduce a loan Northern Data received from Tether.
Rumble’s acquisition of Northern Data would not include any liability for this loan. Instead, Rumble plans to integrate Northern Data’s data centers and its GPU-as-a-service business, which includes over 20,000 Nvidia GPUs. The goal is to establish Rumble as a global leader in AI cloud services.
The transaction is expected to close in the second half of 2025, pending regulatory and board approvals in both the U.S. and Germany.
Following the news, Rumble’s stock gained 20% in pre-market trading, reaching $9.48.
Northern Data also reported strong first-half 2025 financial results, with revenue up 72% to €94.3 million ($109.8 million) compared to the same period last year. This growth was driven by its Taiga Cloud and Peak Mining divisions.
