Rumble’s €1B Quest: Mining Madness or Just Another Day at the Digital Circus?

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Rumble Inc. (Nasdaq: RUM), a glorious titan of video-sharing and cloud wizardry, dreams big – like, €1 billion big – about snatching up Germany’s Bitcoin mining and AI data fortress, Northern Data. Because who doesn’t want a slice of the crypto pie, right? 🍰

This report comes straight from Theminermag, the holy scripture of the crypto mining church, shining light on the latest gossip and research in the land of institutional Bitcoin mining – or, as some call it, the modern gold rush that never quite got off the ground without a few explosions.

Now, under the grand plan, Northern Data shareholders would get 2.319 shiny new Rumble Class A stocks for each of their precious shares. Fancy, isn’t it? That’s roughly a third of the whole shebang if everyone chooses to play along. And don’t worry – if the balance sheets dance to a different tune, that ratio might get even juicier after the sale of Northern Data’s Peak Mining gem.

Meanwhile, Northern Data has cheekily signed a non-binding, non-exclusive promise to sell Peak Mining – their bitcoin mining brigade – to Elektron Energy LP for up to $235 million in shiny cash. Because what’s better than mining bitcoins? Selling the hardware to someone else, of course. 💸

This sale includes an upfront $175 million in hand, with the rest hanging on performance targets and some fancy deposit agreements with hardware suppliers. Northern Data’s Ardent division might still get to join the high-performance computing dance at Corpus Christi II – or so they hope. The deal aims to wrap up by the second half of 2025, so plenty of time for drama.

Rumble’s grand scheme presumes the Peak Mining sale goes through first. After cashing out, the plan is to pay off some debts from Tether – who’s happily holding about 54% of Northern Data – and then swim away from any liability shenanigans. Because in crypto, who needs a clean conscience? 🚀

If the stars align and the deal lands, Rumble will swallow Northern Data’s Ardent data-palaces and the Taiga GPU platform – equipped with approximately 20,480 Nvidia H100s and 2,048 H200s – turning it all into Rumble’s cloud empire. They own five data centers with a potential energy equivalent of almost 850 MW, including one in Georgia that might power your entire town one day.

Tether, the ever-loyal supporter who poured $775 million into Rumble earlier this year, is waving the flag in favor of the deal. They’re ready to exchange their Northern Data stakes for Rumble shares, become a major GPU customer, and tidy up their loan mess. Because in crypto, friends stick together… or so they say.

Before you get your hopes up, Rumble reminds us all: nothing is agreed yet. The deal is still a shiny proposal, pending fancy legal checks, negotiations, and the approval of the German watchdog BaFin – because why make things simple? 😉

For the full scoop, explore the original article here. Stay tuned for more crypto drama – it’s more entertaining than a soap opera, and just as confusing!

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2025-08-11 16:58