BlockBeats news, on August 11, according to The Block, the well-known video sharing platform and cloud service provider Rumble announced on Monday that it plans to acquire bitcoin miner and high-performance computing expert Northern Data for a potential transaction value of 1 billion euros (1.17 billion dollars).
According to the full stock trading plan, Northern Data shareholders can exchange 2.319 shares of newly issued Rumble Class A stock for each share they own—if all shares are delivered, Northern Data shareholders will collectively hold approximately 33.3% of Rumble's equity. As the majority shareholder of Northern Data with a 54% stake, stablecoin giant Tether has expressed support for the transaction and has committed to signing a multi-year GPU procurement agreement upon completion of the deal. Based on the same exchange ratio, Tether will become the largest single holder of Rumble Class A common stock.
In December 2023, the world's largest stablecoin issuer Tether invested 775 million dollars in Rumble to support the development of this YouTube alternative platform. Rumble emphasized in a statement: 'The merged entity will not only strengthen leadership in the field of artificial intelligence but will also promote data privacy and independence on a global scale.'
Northern Data confirmed in another press release that it has been made aware of the potential exchange offer and is willing to engage in further discussions with Rumble regarding the transaction. Rumble's chairman and CEO Chris Pavlovski will continue to hold the majority of voting shares in the company, and he has publicly supported this acquisition offer and pledged to vote in favor of it.
Northern Data's financial report for the first half of 2025, released on Monday, shows strong growth: revenue soared 72% year-on-year to 94.3 million euros (109.8 million dollars), with Taiga cloud services and Peak mining sectors performing exceptionally well. Benefiting from expanded computing power and rising bitcoin prices, mining revenue increased by 49% year-on-year to 53.5 million euros (62.3 million dollars).
According to rockflow data, spurred by this news, Rumble's stock price surged 20% in pre-market trading on Monday, now reported at 9.48 dollars.
