A Bold Move in AI and HPC
In a bold bid to cement their dominance in the next generation of computing, Tether and Rumble have announced plans to jointly acquire all outstanding shares of Northern Data, a leader in artificial intelligence (AI) and high-performance computing (HPC) infrastructure.
The proposed $1.17 billion deal, revealed in a Monday statement from Rumble, would give the two companies full control over Northern Data’s rapidly growing AI and HPC divisions. Tether — the world’s largest stablecoin issuer and Northern Data’s biggest existing shareholder — has already signaled strong support, hinting at upcoming collaborations spanning AI development, peer-to-peer communications, and decentralized data storage solutions.
Tether’s Expanding Web of Influence
Tether’s role in this deal is more than financial. The firm invested a staggering $775 million into Rumble in late 2024, forging a close alliance with the video platform known for its anti-censorship stance. Their partnership deepened earlier this year when Rumble rolled out a Bitcoin and USDT-enabled wallet, further bridging the cryptocurrency and content worlds.
Northern Data operates three core divisions:
- Taiga Cloud – providing cutting-edge GPU cloud services.
- Ardent Data Center – delivering robust data center infrastructure solutions.
- Peak Mining – a Bitcoin mining business, which the company plans to sell to refocus entirely on AI and HPC advancements.
Proceeds from the mining unit’s sale would be reinvested into expanding AI and HPC capabilities — a move that aligns perfectly with Tether’s vision.
The Mechanics of the Deal
If approved, Northern Data shareholders would receive 2.319 newly issued Class A Rumble shares for each share they hold, representing about 33.3% ownership in Rumble post-acquisition. Based on Rumble’s recent closing price of $7.88, the offer values Northern Data shares at $18.27 each, bringing the total deal to approximately $1.17 billion.
The deal’s final terms may shift depending on the timing and proceeds of Peak Mining’s sale. Upon completion, Tether is expected to emerge as Rumble’s largest Class A shareholder, strengthening its influence in both the crypto and AI industries.
Fueling the AI and HPC Future
To support the acquisition, Tether will amend its existing loan to Northern Data, ensuring the company has ample resources for its ambitious growth plans. The stablecoin giant already issued €575 million ($610 million) in debt financing to Northern Data in late 2023, underscoring its long-term commitment to the company’s vision.
If the takeover goes through, the tech and crypto worlds could witness the creation of a powerhouse — one capable of shaping the future of AI, blockchain integration, and decentralized digital infrastructure on a global scale.
