Rumble Eyes Game-Changing All-Stock Takeover of Tether-Backed Northern Data

Rumble just made a power play—and the crypto world is buzzing.

The video platform is reportedly in talks to acquire Northern Data, the Tether-backed AI and cloud computing giant, in an all-stock deal. No cash, just equity—because why spend real money when you can pay in hypotheticals?

Why This Matters

Northern Data isn’t just another crypto startup. It’s a heavyweight in AI infrastructure, backed by the controversial stablecoin titan Tether. A takeover would catapult Rumble into the big leagues of tech—and give it a golden ticket to the AI boom.

The Fine Print

All-stock deals are risky. Shareholders get diluted, valuations get fuzzy, and let’s be honest—somewhere, a VC is popping champagne over paper gains. But if this goes through? Rumble could rewrite the rules of the game.

Bottom Line: In crypto, even acquisitions are speculative. Buckle up.

Why is Rumble acquiring Northern Data?

Rumble, which initially began as a platform to support independent vloggers and small-scale content creators, has since increasingly expanded into cloud infrastructure and digital asset services to diversify its business and compete with larger tech rivals.

According to the company, the acquisition would transform it into a global AI cloud leader by integrating Northern Data’s GPU-as-a-service platform, Taiga, and its large-scale data center unit, Ardent. 

Taiga’s hardware inventory includes around 20,480 Nvidia H100 GPUs and 2,048 H200 GPUs. 

Northern Data also owns five data center sites with potential energized capacity of nearly 850 MW, including a facility in Maysville, Georgia, that could reach up to 180 MW once completed.

The proposed terms would be adjusted if certain balance-sheet changes occur before the transaction closes. Chief among them is the planned sale of Northern Data’s Bitcoin mining arm, Peak Mining, which Rumble has made a condition of the acquisition. 

The companies said any proceeds from that divestment would be used to repay part of an outstanding shareholder loan from Tether.

On the same day it disclosed Rumble’s potential offer, Northern Data confirmed it had signed a non-binding term sheet to sell Peak Mining to U.S.-based bitcoin miner Elektron Energy LP for up to $235 million in cash.

The offer includes $175 million upfront, with the rest contingent on performance targets and the transfer of a hardware deposit agreement. 

The deal, expected to close in the second half of 2025, would also give Northern Data’s Ardent division the right to participate in potential high-performance computing development at Elektron’s Corpus Christi II site.

This sale has been in motion since October last year, when Northern Data disclosed it was exploring divesting Peak Mining to focus on artificial intelligence solutions. 

At the time, CEO Aroosh Thillainathan said the goal was to position Northern Data as a pure-play AI provider, while finding a suitable steward for the mining business.

Tether signals support

Tether, which owns about 54% of Northern Data and invested $775 million in Rumble last year, has reportedly supported its plans to acquire Northern Data and plans to exchange its entire Northern Data stake for Rumble shares at the agreed ratio.

Tether would also become a major Rumble customer under a multi-year GPU purchase commitment and amend the terms of its loan to Northern Data, which would remain outstanding after the deal, the release noted.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.