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Rumble has officially expressed its interest in acquiring Northern Data, according to a company press release dated August 10. This strategic move could shake up the AI cloud and digital asset infrastructure sector, signaling bold ambitions for Rumble’s growth.
Under the proposed acquisition, Northern Data shareholders would receive 2.319 newly issued Class A Rumble shares for every Northern Data share they tender. If the deal goes through and all outstanding shares are exchanged, these shareholders would own roughly 33.3% of the combined entity. However, Rumble has stressed that no final decision has been made yet — the offer remains subject to due diligence, ongoing negotiations, and regulatory approvals.
Why Is Rumble Targeting Northern Data?
Originally founded as a platform supporting independent vloggers and content creators, Rumble has rapidly evolved, expanding into cloud infrastructure and digital asset services to diversify its business and compete with tech giants. The acquisition of Northern Data would be a game changer, transforming Rumble into a global AI cloud leader by integrating Northern Data’s powerful GPU-as-a-service platform, Taiga, and its large-scale data center operations under the Ardent brand.
Northern Data’s hardware arsenal is impressive, including 20,480 Nvidia H100 GPUs and 2,048 H200 GPUs. Its five data centers boast a potential energized capacity of nearly 850 MW, including a facility in Maysville, Georgia, which could reach 180 MW when completed.
Key Conditions and Bitcoin Mining Divestiture
The transaction terms could adjust if balance-sheet changes occur prior to closing — notably, the planned sale of Northern Data’s bitcoin mining unit, Peak Mining. This divestment is a critical condition for Rumble and is expected to generate proceeds used to repay part of a shareholder loan from Tether.
On August 10, Northern Data confirmed a non-binding term sheet to sell Peak Mining to U.S.-based miner Elektron Energy LP for up to $235 million in cash, including an upfront payment of $175 million and additional contingent payments based on performance targets.
Tether’s Strategic Role
Tether, holding approximately 54% of Northern Data and a major investor in Rumble, supports the acquisition plan and intends to exchange its entire Northern Data stake for Rumble shares at the proposed ratio. Additionally, Tether plans to remain a key customer of Rumble through a multi-year GPU purchase commitment and will amend its outstanding loan to Northern Data accordingly.
This acquisition, if completed, positions Rumble as a leading AI cloud player, combining extensive GPU resources with Northern Data’s infrastructure expertise. The deal awaits regulatory green lights and final negotiations but marks a significant milestone in Rumble’s ambitious growth strategy.
