Rumble, a video-sharing platform, announced an agreement to acquire Northern Data for $1.165 billion in a stock-for-stock transaction. The deal would see Rumble’s shareholders control approximately 33% of the combined entity after Northern Data shareholders own around 33.3%. Tether, a major shareholder in Northern Data and issuer of the stablecoin USDT, has expressed support for the merger. This acquisition is expected to strengthen Rumble’s position in AI cloud services while bolstering global data privacy and independence. With the completion of the deal, Tether would become Rumble’s largest Class A shareholder with a multi-year GPU supply commitment. Following the news, Rumble shares surged by 20% to $9.48 in pre-market trading. The transaction is contingent on regulatory approvals, final negotiations and due diligence processes. Notably, Northern Data’s revenue saw a significant increase of 72%, reaching $109.8 million in the first half of 2025, fueled by growth in Taiga Cloud and Peak Mining. This acquisition includes the sale of Northern Data’s Bitcoin mining division, Peak Mining, which is being sold to Elektron Energy for up to $235 million. This move will help reduce Tether’s existing loan to Northern Data. Despite the inclusion of Northern Data’s Ardent data centers and Taiga GPU services, Rumble plans to maintain a strategic approach to its Bitcoin treasury, holding approximately 210.8 BTC valued at about $25.6 million. The completion date for this acquisition is expected in the second half of 2025. It remains subject to regulatory approvals from both the U.S and Germany.