Tether and video platform Rumble have announced plans to acquire all shares of AI infrastructure operator Northern Data in a deal valued at around $1.17 billion. The move would see Tether become the largest shareholder in Rumble while expanding its influence in artificial intelligence and high-performance computing (HPC).
Joint Bid for Full Control
According to a statement from Rumble on Monday, the two companies intend to jointly purchase all outstanding shares of Northern Data. The acquisition would give them complete control of the Frankfurt-based firm, which operates across three divisions: Taiga Cloud, offering GPU-based cloud services; Ardent Data Center, specialising in data infrastructure; and Peak Mining, a Bitcoin mining operation.
Northern Data has indicated plans to sell Peak Mining in order to focus its resources on AI and HPC development. Proceeds from the sale are expected to be reinvested in these areas.
Tether at the Centre of the Deal
Tether, the issuer of the USDt stablecoin and already Northern Data’s largest shareholder, is a key driver of the proposal. The company invested $775 million in Rumble at the end of 2024 and has been deepening ties with the video platform. In May 2025, Rumble integrated USDT into its Bitcoin and stablecoin wallet, further cementing the partnership.
The deal also reflects Tether’s broader ambitions, with the firm signalling future collaborations in AI, peer-to-peer communications and decentralised data storage solutions.
Shareholder Terms and Valuation
If the acquisition is completed, Northern Data shareholders will receive 2.319 newly issued Class A Rumble shares for each Northern Data share they hold. Based on Rumble’s closing price of $7.88 last Friday, this values Northern Data’s shares at $18.27 each, bringing the total offer to roughly $1.17 billion.
This arrangement would see Northern Data shareholders collectively own around 33.3% of Rumble once the transaction is finalised. The offer value is also subject to adjustment depending on the sale of Peak Mining.
Financial Support and Strategic Alignment
Following completion of the deal, Tether is expected to become the single largest holder of Rumble’s Class A common stock. To ensure Northern Data’s financial stability during the transition, Tether plans to amend its existing loan arrangements with the company. This includes adjustments to a €575 million ($610 million) debt facility issued in late 2023, providing additional financial flexibility for the acquired business.
The potential takeover marks a significant consolidation of interests between Tether, Rumble and Northern Data, creating a partnership that spans cryptocurrency, online video and advanced computing technologies. If approved, the deal could position the three companies to capitalise on growing demand for AI infrastructure while expanding their reach into decentralised digital services.
