Tether Backs Rumble’s $1.2B Bid for AI Firm Northern Data
Media Platform, Rumble’s $1.2B Acquisition of Northern Data Could Leverage Firm's AI cloud infrastructure and is Backed by Stablecoin Giant Tether
U.S.-based video platform and cloud services provider Rumble, backed by Tether, is set to acquire Germany’s AI cloud company Northern Data in an all-stock deal valued at an estimated $1.2 billion. The acquisition would combine Northern Data’s GPU-heavy Taiga Cloud unit and its large-scale Ardent data center arm with Rumble’s operations.
According to the terms, Northern Data shareholders would receive 2.319 Rumble Class A shares for each share they tender. If the deal is finalized, it would give them around 33.3% ownership of the combined company.
Notably, the proposal closing would mean Northern Data sells its Bitcoin mining division, Peak Mining. Northern Data has already signed a term sheet with Elektron Energy LP for up to $235 million, including $175 million upfront and the remainder based on performance milestones. The sale is expected to be completed in the second half of 2025.
Tether’s Strategic Role in the Rumble, Northern Data Deal
Tether holds roughly 54% of Northern Data and has publicly endorsed the deal. The stablecoin issuer giant plans to exchange its Northern Data stake for Rumble shares under a proposed ratio. Notably, the acquisition would also allow Tether to lock in a multi-year commitment with Rumble to purchase GPUs, becoming one of its largest cloud customers.
Earlier this year, Tether invested $775 million in Rumble, indicating the two companies are comfortable doing business together. By backing the deal, Tether aims to align its blockchain infrastructure ambitions with Rumble’s expanding AI and cloud footprint.
Tether is also putting efforts into its strategic acquisitions. Earlier this year, the stablecoin issuer acquired a significant stake in the Bitcoin mining company, Bitdeer.
Northern Data Growth Gains Momentum
Rumble’s cloud capabilities could benefit massively by leveraging Northern Data’s 20,480 H100 Nvidia GPU chips inventory and over 2,000 of the latest H200s. This is alongside a portfolio of data centers with nearly 850 megawatts of potential HPC-ready capacity.
Northern Data has enjoyed rapid growth, with its cloud and data center revenue hitting $47.6 million in the first half of 2025, a 116% year-on-year increase. The company just launched a new North American AI and HPC data center in Pittsburgh that features advanced liquid cooling technology for energy efficiency.
