Video-sharing platform Rumble has expressed interest in acquiring Northern Data, an AI and cloud operations company.
Details of the Agreement
On August 10, Rumble confirmed its intent to acquire Northern Data, offering 2.319 newly issued Class A shares for each Northern Data share. If all shares are tendered, Northern Data investors would own about 33.3% of the combined entity.
Conditions of the Deal
A key condition for the acquisition is the sale of Northern Data’s bitcoin mining subsidiary, Peak Mining, which has been sold to Elektron Energy LP for up to $235 million. The transaction includes $175 million upfront, with the remainder tied to performance milestones.
Prospects for Rumble and Northern Data
Rumble, originally built to serve independent creators, has expanded into digital assets and AI infrastructure. Northern Data has begun pivoting toward AI in 2023, aiming to become a pure-play AI provider.
The potential merger between Rumble and Northern Data could significantly strengthen both companies' positions in the cloud and AI markets, opening new avenues for innovation.
