Rumble video exchange platform (RUM) On Monday was acquired on the plans to acquire the Northern cloud computing firm in an agreement of the entire stock, which would see the two Stablecoin Emier Tether companies
inverted in merging into one.
If the agreement progresses, Rumble would give 2,319 actions recently issued for each northern data action. The shareholders of the northern data had approximately one third of the combined company.
Rumble would integrate GPU business operations as a Taiga de Northern Data and Taiga GPU service, adding more than 20,000 GPU NVIDIA H100 and 2,048 h200 to its cloud infrastructure. Northern Data’s five own data centers, with an energized potential capacity of approximately 850 MW, include a Georgia installation that is expected to deliver 180 MW when completing.
Tethher, who has approximately 54% of the participation of the northern data, agreed in principle to change his rumble actions and commit to Rumble’s several years. The stablecoin issuer also plans to amend its loan to the northern data to relieve financial pressure after merger. The agreement would make Tether become the largest individual shareholder of common rumble class A shares after its investment of $ 775 million in the company in February.
Rumble’s CEO, Chris Pavlovski, which would retain voting control, said the acquisition could position the company as a global leader in the cloud computing centered in AI while emphasizing privacy and independence in the infrastructure.
The announcement coincided with Rumble Reporting Rising income and a loss of $ 30.2 million, or 12 cents per share, in the second quarter.
Rumble’s shares rose up to 20% prior to the market before returning some of the profits during Monday’s session, quoting 7% higher from Friday closure.
Northern data actions, negotiated in European exchanges, closed the day almost 20% lower.
Read more: Rumble Taps Moonpay for Crypto Wallet before launching the third quarter
