Rumble throws down the gauntlet: plans to acquire Northern Data for approximately $1.17 billion in an all-stock deal, reportedly with support from Tether.

This is not just a simple merger gossip, but a three-line linkage of "computing power × traffic × crypto funds."

If AI infrastructure and mining cash flow are tied together, the market will treat it as a new narrative to speculate on.

Subsequent focus on regulatory statements and delivery terms; actual implementation will be the switch for re-evaluating the valuation.