The Rumble platform announced plans to acquire the European company Northern Data, specializing in high-performance computing and Bitcoin mining, for €1 billion.
Deal Terms
On August 11, Rumble announced a plan to offer Northern Data shareholders 2.319 newly issued Class A shares for each Northern Data share. If all shares are tendered, Northern Data shareholders would gain approximately one-third of Rumble. Major shareholder Tether, holding a 54% stake in Northern Data, has backed this idea and would become Rumble's largest Class A shareholder if the deal is completed.
Exclusion of Peak Mining
If the acquisition is completed, Rumble will take over Northern Data's data centers and its Taiga GPU-as-a-service platform. However, Peak Mining will not be included in the deal. Northern Data was previously considering selling this unit and is now in discussions with Elektron Energy for a sale of up to $235 million.
Market Reaction
The news of the potential acquisition led to a 20% surge in Rumble shares in pre-market trading, reaching $9.48. Northern Data also reported a 72% increase in revenue in the first half of 2025, amounting to €94.3 million. Bitcoin mining revenues rose by 49% due to increased mining capacity and rising Bitcoin prices.
The potential deal between Rumble and Northern Data could significantly reshape the AI cloud services market, though the final decision rests with shareholders and regulatory bodies.
