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- Zafar Naik
Zafar Naik
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Aug 11, 2025 10:06 UTC
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Tether-Backed Northern Data in Talks for $1.17B Sale to Rumble: Full Details
Rumble is considering a $1.17B all-stock acquisition of Tether-backed Northern Data.
The deal would give Rumble access to Northern Data’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.
The offer is still under discussion and depends on due diligence, negotiations, and regulatory approval.
Rumble Targets Northern Data’s GPU Goldmine
What prompted the proposal? Northern Data’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 today’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
There’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.
Tether’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 Data’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
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.
Peak Mining must be sold first ($235M deal with Elektron Energy), with proceeds repaying Tether’s shareholder loan (54% ND owner).
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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