Tether-controlled Rumble to acquire Bitcoin mining firm Northern Data for $1.17 billion

According to Odaily Planet Daily, video sharing platform and cloud service provider Rumble announced on Monday its intention to acquire Bitcoin mining and high-performance computing specialist Northern Data for a potential transaction value of €1 billion (US$1.17 billion). As Northern Data's controlling shareholder with a 54% stake, stablecoin giant Tether has expressed support for the transaction and has committed to a multi-year GPU procurement agreement upon closing. Based on the same exchange ratio, Tether will become the largest single holder of Rumble's Class A common stock.

Northern Data's first-half 2025 financial results released on Monday showed a 72% year-on-year increase in revenue to 94.3 million euros ($109.8 million). Rumble's Q2 financial report showed that as of June 30, 2025, the company held $283.8 million in cash and cash equivalents and 210.82 bitcoins (worth approximately $25 million). (The Block)