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    • 2 minutes read

    Tether-Backed Northern Data in Talks for $1.17B Sale to Rumble: Full Details

    Story Highlights
    • Rumble is considering a $1.17B all-stock acquisition of Tether-backed Northern Data.

    • The deal would give Rumble access to Northern Dataโ€™s massive Nvidia GPU inventory and 850 MW data center capacity.

    • Northern Data must sell its Bitcoin mining arm to Elektron Energy before the acquisition can proceed.

    Rumble is eyeing a move that could push it deeper into the global AI race. The U.S. video platform, known for backing independent creators, is considering an all-stock acquisition of Tether-backed Northern Data worth about $1.17 billion.

    If the deal happens, Northern Data shareholders would get 2.319 Rumble Class A shares for each of their own, ending up with around 33.3% ownership of the combined company.ย 

    The offer is still under discussion and depends on due diligence, negotiations, and regulatory approval.

    Rumble Targets Northern Dataโ€™s GPU Goldmine

    What prompted the proposal? Northern Dataโ€™s Taiga Cloud and Ardent data center units. 

    Taiga holds roughly 20,480 Nvidia H100 GPUs and over 2,000 H200 GPUs – the kind of high-powered chips driving todayโ€™s AI boom.

    Northern Data also runs five data center sites with potential capacity of nearly 850 MW, including a 180 MW site under development in Georgia. Rumble says bringing this hardware under its wing could turn it into a global AI cloud leader. 

    Bitcoin Mining Exit Before the Deal

    Thereโ€™s one condition: Northern Data must sell its Peak Mining Bitcoin business before any deal closes. That process is already underway, with a $235 million agreement to sell to U.S. miner Elektron Energy with $175 million upfront and the rest linked to performance targets.

    Proceeds from the sale will go toward repaying part of a shareholder loan from Tether, which owns 54% of Northern Data.

    Tetherโ€™s Full Support

    Tether has backed the plan, saying it will swap its Northern Data shares for Rumble stock on the same terms as other shareholders. It also plans to be a major GPU customer for Rumble under a multi-year agreement.

    Market Reaction Tells Another Story

    Despite the ideas on the table, Northern Dataโ€™s stock fell 27% after the news, hitting its lowest level in a year. The offer values the company at about $18.3 per share, a 32% discount to its last close in Frankfurt.

    For now, the acquisition is only a possibility but if Rumble moves ahead, it could be interesting to see how such crypto-backed ventures would shape up. 

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    FAQs

    Why does Rumble want Northern Data?

    To access 20,480+ Nvidia H100/H200 GPUs and 850MW data centers – key infrastructure to compete in the global AI cloud race through Taiga/Ardent units.

    What happens to Northern Data’s Bitcoin mining?

    Peak Mining must be sold first ($235M deal with Elektron Energy), with proceeds repaying Tether’s shareholder loan (54% ND owner).

    How is Tether involved?

    Tether supports the deal, agreeing to swap its ND shares for Rumble stock and becoming a major GPU customer via multi-year contract.

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