Tether and Rumble propose to jointly acquire all the actions of the northern data, taking total control of the artificial intelligence infrastructure company.
According to a Rumble announcement on Monday, the agreement would be based on existing north data and high performance computer science (HPC) operations. Tether, the USDT (USDT) stablecoin issuer and the largest shareholder of Northern Data, would support the transaction. Tether has hinted at future collaborations that involve AI, communications between pairs and data storage solutions.
Tether depends northern data ties
Tether is the centerpiece that connects all the companies involved in the potential agreement, with the company that invests $ 775 million in the alternative rumble of YouTube Anti-Censura at the end of 2024. The two companies consider that it was launched by Alte. Bitcoin (BTC) and Stablecoin wallet.
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The Northern Data business is divided into three divisions: Taiga Cloud, which sacrifices the services in the GPU cloud; ARDENT Data Center, which provides data infrastructure; And Peak Mining, a Bitcoin mining operation. The company has indicated plans to sell the mining unit to focus on AI and HPC. The sale processes would be reinvested in those areas.
If the agreement is made, each North data shareholder is expected to receive 2,319 shares of Rumble Class A freshly issued for each sacrifice of northern data actions. This would lead to approximately 33.3% of Rumble’s property to be given to the northern data shareholders.
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Based on the rumble closing price of $ 7.88 on Friday, the sacrifice values Northern’s data at $ 18.27, or around $ 1.17 billion in total.
The agreement is also subject to adjustment for the potential sale of mining of the Bitcoin mining unit. “After completing the possible sacrifice, Tether is expected to become the largest holder of common rumble’s class A actions,” the announcement said.
Tether also modifies the current loan to northern data to provide “sufficient financial advance for the acquired business.” Tether issued 575 million euros ($ 610 million) in debt financing to the company at the end of 2023.
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