Video-sharing platform Rumble is weighing an all-stock acquisition of Northern Data, the Tether-backed AI and data center operator, in a move that could create a global AI cloud leader.
In an August 10 statement, Rumble confirmed it had expressed interest in acquiring 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. The proposal remains subject to due diligence, negotiations, and regulatory approvals.
The potential deal would merge Rumble’s growing cloud infrastructure arm with Northern Data’s GPU-as-a-service platform Taiga—featuring roughly 20,480 Nvidia H100 and 2,048 H200 GPUs—and its large-scale data center unit Ardent, which operates five sites with a potential energized capacity of nearly 850 MW.
A key condition for the acquisition is the sale of Northern Data’s bitcoin mining subsidiary, Peak Mining. Northern Data announced it had signed a non-binding agreement to sell Peak Mining to U.S.-based Elektron Energy LP for up to $235 million in cash. The transaction includes $175 million upfront, with the remainder tied to performance milestones and a hardware deposit transfer, and is expected to close in the second half of 2025.
Proceeds from the sale would partly repay an outstanding shareholder loan from Tether. Tether, which holds 54% of Northern Data and invested $775 million in Rumble last year, supports the acquisition and plans to swap its Northern Data stake for Rumble shares at the proposed ratio. It would also become a major Rumble customer under a multi-year GPU purchase agreement.
Rumble, originally built to serve independent creators, has expanded into digital assets and AI infrastructure to challenge larger tech rivals. Northern Data began pivoting toward AI in 2023, with CEO Aroosh Thillainathan calling the move a bid to become a “pure-play” AI provider.
Notably, Rumble plans to launch its own Bitcoin and stablecoin wallet in the third quarter of 2025. The move directly challenges Coinbase Wallet and other major players in the mobile crypto wallet market.
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