Rumble and Northern Data sign a merger agreement, Tether commits to invest $150 million to support GPU services
According to The Block, the American video and cloud platform Rumble has signed a business combination agreement with Northern Data, a Frankfurt-listed artificial intelligence and high-performance computing infrastructure company. Rumble will launch a voluntary public exchange offer for all outstanding shares of the latter.Through this merger, Rumble will gain one of the largest GPU asset portfolios in Europe, expanding its presence in the cloud computing and artificial intelligence sectors. The deal also deepens Rumble's partnership with Tether, which has committed to providing substantial customer and commercial support for the transaction.According to the acquisition offer, each share of Northern Data can be exchanged for 2.0281 newly issued Class A shares of Rumble, with no minimum acceptance threshold—meaning the deal can be completed even if only a small number of shareholders accept the offer. However, this ratio is lower than the 2.319 shares proposed when Rumble first announced the acquisition plan in August this year, at which time the potential transaction was valued at approximately $1.17 billion.At the same time, Tether has committed to investing $150 million in GPU services within two years after the transaction is completed and has signed a $100 million advertising agreement to promote the adoption of Rumble Wallet.The transaction is expected to be completed in the first or second quarter of 2026, depending on regulatory approvals and the satisfaction of other conditions, at which point Northern Data's shares will be delisted. If all outstanding shares participate in the exchange, Northern Data shareholders will hold approximately 30.4% of the merged company.After the transaction is completed, Rumble will also assume approximately €610 million ($705 million) in shareholder loans owed by Northern Data to Tether. Half of the loans will be converted into Rumble shares at a price of $7.88 per share, while the remaining portion will be refinanced through a new secured loan provided by Tether.