Tether & Rumble Bet Big: Inside Northern Data’s $1.17B Power Play

Crypto heavyweights Tether and Rumble are circling Germany’s Northern Data in a deal that could reshape Europe’s tech infrastructure—and pad some offshore balance sheets.

The billion-dollar shuffle

At $1.17 billion, this isn’t pocket change—even for stablecoin printers and meme-stock video platforms. Northern Data’s bitcoin mining and AI infrastructure suddenly looks like the hottest distressed asset in Frankfurt.

Why this matters

When stablecoin issuers start playing private equity, you know the bull market’s back. The move signals crypto’s quiet pivot from speculative tokens to hard infrastructure—with a side of regulatory arbitrage.

Watch the hands, not the cards

The deal’s real magic? Converting Tether’s opaque reserves into tangible data centers. Perfect for when auditors come knocking—or when the SEC starts asking about those ‘alternative’ banking arrangements.

The Deal Transforming Rumble into Global AI Cloud Leader

The purchase would turn Rumble into a global AI cloud leader by adding Northern Data’s GPU service platform, Taiga, and data centres called Ardent. Taiga has about 20,480 Nvidia H100 GPUs and 2,048 H200 GPUs. 

Northern Data owns five data centres, with a total potential power capacity of nearly 850 MW. One site in Maysville, Georgia, could reach 180 MW when finished.

The deal’s terms might change if Northern Data sells its Bitcoin mining business, Peak Mining, which Rumble wants to happen before the purchase. The money from that sale would be used to pay down a loan from Tether.

Northern Data recently agreed to sell Peak Mining to Elektron Energy LP, a U.S.-based bitcoin miner, for up to $235 million. This includes $175 million upfront, with the rest based on performance and other conditions. The firm was also sued for tax evasion in July 2024.

The sale is expected to finish in the second half of 2025. The deal WOULD also allow Northern Data’s Ardent to join future computing projects at Elektron’s Corpus Christi II site.

Tether’s Backing and Strategic Impact

Tether, which owns about 54% of Northern Data and invested $775 million in Rumble last year, supports the acquisition. It plans to trade all its Northern Data shares for Rumble shares at the same rate. 

Tether would also become a big Rumble customer with a multi-year commitment to buy GPUs and adjust the loan terms to Northern Data. Rumble said this deal would help it compete with big tech and grow its cloud and video services. Combining the companies would boost AI leadership while focusing on data privacy worldwide.

This acquisition could change Rumble from a video platform into a tech firm with strong AI and cloud computing roots. At the same time, Tether would strengthen its role in tech, social media, and AI through a bigger stake in the combined company.

Before moving ahead, Rumble must finish its checks and get approval from its board. Northern Data’s management would also need to recommend the deal to its shareholders. The deal still needs approval from regulators. There is no guarantee it will happen.

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