Tether-supported Rumble plans to spend 1.17 billion dollars to acquire high-performance computing solution provider Northern Data

According to Mars Finance, on August 11, The Block reported that the well-known video sharing platform and cloud service provider Rumble announced on Monday its intention to acquire Bitcoin miner and high-performance computing expert Northern Data for a potential transaction value of 1 billion euros (1.17 billion dollars). Under the all-stock transaction plan, Northern Data shareholders can exchange each share for 2.319 newly issued Class A shares of Rumble—if all shares are delivered, Northern Data shareholders will collectively hold about 33.3% of Rumble's equity. As the controlling shareholder with a 54% stake in Northern Data, stablecoin giant Tether has expressed support for the transaction and has committed to signing a multi-year GPU procurement agreement after the deal's completion. Based on the same share exchange ratio, Tether will become the largest single holder of Rumble's Class A common stock. In December 2023, Tether, the world's largest stablecoin issuer, injected 775 million dollars into Rumble to support the development of this YouTube alternative platform. Rumble stressed in a statement: 'The merged entity will not only strengthen its leadership in the field of artificial intelligence but also promote data privacy and independence on a global scale.' Northern Data confirmed in another press release that it has been informed of the potential share exchange offer and is willing to engage in further discussions with Rumble regarding the transaction. Rumble 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, committing to cast all votes in favor. Northern Data's financial report for the first half of 2025, released on Monday, showed strong growth: revenue soared 72% year-on-year to 94.3 million euros (109.8 million dollars), with outstanding performance from the Taiga cloud services and Peak mining sectors. Benefiting from the expansion of computing power and the rise in Bitcoin prices, mining revenue increased by 49% year-on-year to 53.5 million euros (62.3 million dollars). According to rockflow data, stimulated by the news, Rumble's stock price surged 20% in pre-market trading on Monday, currently reported at 9.48 dollars.