Overview

• Under the proposal, each Northern Data share would convert into 2.319 newly issued Rumble Class A shares, giving its investors about one-third of the combined company.
• Northern Data confirmed it has signed a non-binding term sheet to sell its Peak Mining bitcoin-mining arm to Elektron Energy for up to $235 million in cash.
• Tether, which owns 54 percent of Northern Data, intends to swap its entire stake into Rumble shares and has pledged a multi-year GPU purchase commitment.
• Rumble plans to integrate Northern Data’s Taiga GPU-as-a-service platform and Ardent data-center operations—adding over 20,000 Nvidia H100 and H200 GPUs and 850 MW of capacity—into its AI cloud offering.
• The transaction remains non-binding and subject to due diligence, negotiation, regulatory approvals and potential adjustments tied to the Peak Mining divestment and balance-sheet items.