Tether-Backed Rumble Signs Merger Agreement with Northern Data, Emerging as a European AI Computing Powerhouse

BlockBeats News, November 10th, the U.S. video and cloud platform Rumble signed a business merger agreement with Frankfurt-listed artificial intelligence and high-performance computing infrastructure company Northern Data. Rumble will initiate a voluntary public stock swap acquisition of all outstanding shares of the latter.

Through this merger, Rumble will gain access to one of Europe's largest GPU asset portfolios, expanding its presence in cloud computing and artificial intelligence. The transaction also deepens Rumble's collaboration with Tether, the latter committing to provide substantial customer and business support for the deal.

Under the acquisition offer, each Northern Data share can be exchanged for 2.0281 shares of newly issued Rumble Class A stock, with no minimum acceptance threshold set—meaning the transaction can proceed even if only a small number of shareholders accept the offer. However, this ratio is slightly lower than the 2.319 shares proposed when Rumble first announced the acquisition plan in August this year, with a potential transaction valuation of around $1.17 billion.

This transaction is expected to be completed in the first or second quarter of 2026, depending on regulatory approval and other conditions. At that time, Northern Data's shares will be delisted. If all outstanding shares participate in the stock swap, Northern Data shareholders will hold approximately 30.4% of the merged company. After the transaction, Rumble will also take over Northern Data's €610 million (approximately $705 million) shareholder loan owed to Tether. Half of this loan will be converted into Rumble stock at a price of $7.88 per share, and the remaining portion will be refinanced through a new collateralized loan provided by Tether.