Rumble increases stake in European data center operator Northern Data and approaches full control.

On September 30, 2026, RUM Group Inc. completed the acquisition of an additional 8,256,155 outstanding shares of Northern Data AG from Tether Investments, S.A. de C.V., under a previously agreed Transaction Support Agreement. In exchange, the company issued a pre-funded warrant to Tether to purchase up to 16,744,307 shares of RUM Group's Class A common stock at a nominal exercise price, reflecting an offer ratio of 2.0281 RUM shares for each Northern Data share.

This share purchase increased RUM Group's ownership in Northern Data from approximately 85.2% to about 98%, substantially tightening its control over the German company. RUM Group intends to initiate squeeze-out proceedings under the German Stock Corporation Act to acquire the remaining roughly 2% of Northern Data's outstanding shares, aiming to reach full 100% ownership and further consolidate its strategic and operational control.

According to TipRanks' AI Analyst, Spark, RUM is rated Neutral. The assessment is held back most by weak financial performance—large losses and ongoing cash burn—despite supportive balance-sheet metrics. Offsetting this concern is an earnings call indicating a potentially significant growth step-up via Quake AI, accompanied by formal guidance and high GPU utilization, though technical signals are mixed and valuation support is limited given the company's loss-making status and absence of a dividend. The most recent analyst rating on RUM stock is a Buy with a $15.00 price target.

RUM Group Inc. is a holding company with significant ownership in Northern Data AG, a German stock corporation. Through its equity stake, RUM Group is focused on consolidating control over Northern Data's operations and shares, strengthening its position and influence within the company's business and governance structure.