Under the agreement, Northern Data shareholders will receive 2.0281 newly issued Class A shares of Rumble for each Northern Data share, representing a 12.99% discount to the German firm’s closing price on Friday. Following completion, Northern Data shareholders are expected to hold 30.4% of Rumble, while Northern Data itself will delist from the stock market. The transaction is slated to close in the second quarter of 2026.
This deal marks a continuation of Rumble’s acquisition efforts, following an August offer that sought to gain control of Northern Data’s Taiga business and its large-scale Ardent data center operations. At the time, Rumble had proposed 2.319 shares per Northern Data share, reflecting negotiations over valuation and strategic fit.
Northern Data has recently navigated market uncertainties, withdrawing its annual forecast in October amid fluctuations in GPU pricing and while evaluating strategic options. The acquisition includes several significant elements aimed at strengthening Rumble’s operational and technological base:
- A $150 million GPU leasing agreement with cryptocurrency group Tether, which currently owns 48% of Rumble.
- $200 million in tax liability support provided by Rumble.
- The acquisition of 22,400 Nvidia GPUs following the transaction.
Tether, which invested $775 million in Rumble in December 2024, will also serve as an anchor customer for the combined company, ensuring a steady revenue base for its GPU and cloud operations.
In a further incentive, Northern Data has agreed to pay $200 million in cash to its shareholders if it successfully sells its Corpus Christi data center prior to the deal’s closure.
Analysts say the acquisition positions Rumble to integrate high-performance data infrastructure and cryptocurrency-focused GPU operations into its media platform, signalling a push into the intersection of cloud computing, AI, and digital asset services, while broadening its technological footprint in Europe and the U.S.