Rumble has announced its plans to acquire Northern Data in a deal valued at approximately $1.165 billion.
Creation of a New Combined Entity
Rumble announced its intention to acquire Northern Data in a stock-for-stock transaction valued at approximately $1.165 billion. The offer proposes issuing 2,319 new Rumble Class A shares for each Northern Data share. If accepted fully, Northern Data shareholders would own approximately 33.3% of Rumble. Tether, the majority shareholder of Northern Data, indicated its support for the offer, which would make Tether the largest Class A shareholder of Rumble upon completion.
Northern Data's Financial Performance
Northern Data reported a 72% increase in revenue, reaching $109.8 million in the first half of 2025. This growth was driven by Taiga Cloud and Peak Mining, with mining revenue up by 49% to $62.3 million due to increased capacity and a rebound in Bitcoin prices.
Terms of the Deal and Future Outlook
The offer stipulates the disposal of Northern Data’s Bitcoin mining division, Peak Mining, before the transaction’s completion. A non-binding agreement has been reached for its sale to Elektron Energy for up to $235 million. The proceeds are intended to reduce Tether’s current loan to Northern Data. Rumble aims to integrate Northern Data’s Ardent data centers and Taiga GPU services, incorporating over 20,000 Nvidia GPUs and around 850 MW deployed capacity into its infrastructure. The target closing is set for the second half of 2025 pending regulatory approvals.
As part of its corporate Bitcoin treasury strategy, Rumble continues to actively develop its business with a focus on leadership in AI cloud services.
