Tether and Rumble have announced plans for a joint acquisition of all shares of Northern Data, allowing them to take control of its artificial intelligence infrastructure.
Acquisition Proposal
On Monday, Rumble issued an announcement regarding the intention to acquire Northern Data shares. This move aims to expand the company's existing operations in AI and high-performance computing.
Northern Data's Plans
Northern Data operates in three segments: Taiga Cloud, Ardent Data Center, and Peak Mining. The company recently announced plans to sell its Peak Mining unit to focus on AI and high-performance computing.
Financial Terms of the Deal
If the deal goes through, Northern Data shareholders will receive 2.319 new Class A Rumble shares for each Northern Data share. The total value of Northern Data shares is estimated at approximately $1.17 billion.
The joint acquisition of Northern Data could significantly enhance Tether and Rumble's influence in AI and computational technologies, opening new opportunities for both companies.
