Tether-Backed Rumble Acquires Northern Data in All-Share Deal to Boost AI and Cloud Infrastructure

On November 10, 2025, Rumble Inc., a video platform, announced it has agreed to acquire Northern Data AG, a German AI and high-performance computing infrastructure company, in an all-share deal. This acquisition aims to expand Rumble's cloud and AI capabilities, supporting its platform that hosts Truth Social.

Rumble will launch a voluntary public exchange offer, where Northern Data shareholders will receive approximately two Rumble shares for each Northern Data share. If all shareholders participate, they will collectively own about 30% of the combined company after the deal closes. Management from both companies has approved the agreement, with no minimum acceptance rate required.

The deal provides Rumble with one of Europe's largest GPU fleets, including 22,400 Nvidia GPUs—primarily high-end H100 and H200 chips—and four data centers, such as a major site in Maysville, Georgia, which will offer up to 180 megawatts of power once completed.

Tether, along with shareholders affiliated with Northern Data's co-CEO Aroosh Thillainathan and other investors representing about 72% of shares, has committed to selling their stakes to Rumble. The offer includes a potential cash component of up to $200 million, contingent on commercialization milestones related to Northern Data's former Corpus Christi location.

Separately, Rumble secured a $100 million advertising commitment from Tether, with $50 million to be spent annually over two years starting in the first quarter of 2026. Tether had previously invested $775 million in Rumble, aiding the launch of Rumble Wallet and supporting this acquisition.

Rumble is advancing its crypto integrations, with plans to introduce Bitcoin tipping for its 51 million monthly users by early to mid-December, in collaboration with MoonPay for in-app crypto wallets. The company adopted a Bitcoin treasury strategy in March, holding 211 BTC worth approximately $22.3 million.

Amid this, Tether reported approaching $15 billion in profits this year, with USDT circulating around $183 billion. The company is also preparing to re-enter the U.S. with a new stablecoin, USAT, and has invested in Italian football club Juventus.

The acquisition follows Northern Data's sale of its mining division, Peak Mining, for up to $200 million, and comes amid a European criminal investigation into the company's GPU purchases and tax incentives.