Tether-backed Rumble is planning to spend $1.17 billion on the acquisition of high-performance computing solutions provider Northern Data.

On August 11, according to The Block, the well-known video sharing platform and cloud service provider Rumble announced on Monday its plan to acquire Bitcoin miner and high-performance computing expert Northern Data for a potential transaction value of €1 billion ($1.17 billion). Under the all-stock transaction scheme, Northern Data shareholders can exchange each share for 2.319 newly issued Class A shares of Rumble—if all shares are delivered, Northern Data shareholders will collectively hold about 33.3% of Rumble’s equity. As the majority shareholder with 54% of Northern Data, stablecoin giant Tether has expressed support for the transaction and has committed to signing a multi-year GPU procurement agreement after the deal is completed. Based on the same share exchange ratio, Tether will become the largest single holder of Rumble's Class A common stock. In December 2023, Tether, the world's largest stablecoin issuer, injected $775 million into Rumble to support the development of this YouTube alternative platform. Rumble emphasized in a statement: "The merged entity will not only strengthen leadership in the artificial intelligence sector but also promote the construction of data privacy and independence globally." Northern Data confirmed in another press release that it has been informed of the potential share exchange offer and expressed willingness to engage in further discussions with Rumble regarding the transaction. Rumble Chairman and CEO Chris Pavlovski will continue to hold the majority of voting shares in the company; he has publicly supported this acquisition offer and pledged to vote in favor of it. Northern Data’s financial report for the first half of 2025, released on Monday, showed strong growth: revenue soared 72% year-on-year to €94.3 million ($109.8 million), with the Taiga cloud service and Peak mining zones performing outstandingly. Benefiting from the expansion of Computing Power and the rise in Bitcoin prices, mining revenue increased by 49% year-on-year to €53.5 million ($62.3 million). According to rockflow data, spurred by this news, Rumble’s stock price surged 20% in pre-market trading on Monday, now reported at $9.48.