Rumble Sells Most of Its Bitcoin as AI Cloud Posts First Profit

RUM Group, which owns the video-sharing platform Rumble, revealed on Wednesday that it reduced its bitcoin stash by roughly two-thirds during the third quarter. The move came as its recently acquired AI cloud business helped the company post its first adjusted quarterly profit.

The Nasdaq-traded firm held 94.68 bitcoin, worth $7.9 million, as of September 30. Three months earlier, at the end of June, it had 293.14 bitcoin valued at approximately $17.2 million, according to its second-quarter report.

This means Rumble sold about 198 bitcoin during the quarter, or roughly 68% of its holdings.

According to the company's cash-flow statement, it recorded net sales of digital assets totaling around $15.3 million in the first nine months of 2026. In the same period a year prior, it had spent $19.1 million buying digital assets.

Rumble's earnings release did not provide a reason for the sales or disclose the price received. The digital assets line on its balance sheet, which is not broken out in the release, dropped to $11.1 million from $18.5 million at the end of 2025.

Rumble’s AI pivot takes over

The bitcoin reduction took place during a quarter that was shaped by Quake AI, the cloud and AI infrastructure business Rumble built around Northern Data, a German GPU operator it purchased in June.

Revenue surged 290% year over year to a record $96.6 million, exceeding the company's own guidance range. Quake AI generated $68.2 million of that total—more than 70%—in its first full quarter. The unit operates around 22,000 Nvidia GPUs, which the company said were approximately 85% utilized.

Adjusted EBITDA reached $4.4 million, marking the first positive result in the company's history. Under GAAP accounting, RUM Group still recorded a loss of $89.9 million, weighed down by $85.2 million in amortization and depreciation charges. Executives said on the earnings call that about $39 million of that came from writing up Northern Data's assets in purchase accounting.

“Quake AI is now the engine of our business,” CEO Chris Pavlovski said. “We have real assets running real AI workloads for real customers and generating real cash.”

The video segment expanded at a slower pace. Rumble's video business brought in $28.4 million, up 15% year over year, and posted an adjusted EBITDA loss of $12.1 million, wider than the loss a year earlier, executives said on the call.

Cash has also been declining. RUM Group ended September with $134.4 million in cash and cash equivalents, down from $203.3 million at the end of June and $237.9 million at the end of 2025. During the quarter, the company raised its stake in Northern Data to roughly 98% and expects to own all of it by early 2027.

The company also warned that some of the approximately 250 megawatts of unmonetized capacity it had targeted for 2027 may be delayed beyond that year due to market conditions. RUM Group guided for fourth-quarter revenue of $88 million to $94 million.

Another bitcoin holder shrinks its treasury

Rumble has been one of the more visible bitcoin-friendly platforms outside the crypto industry. In January, it launched a crypto wallet with Tether that allows creators to receive payments in bitcoin.

Its sales add to a list of companies reducing or exiting bitcoin positions as prices fall and capital shifts toward AI. Hyperscale Data sold its last bitcoin to fund an AI data center, Keel sold its entire treasury for $192 million and MARA sold 13,597 bitcoin this month.

Bitcoin traded near $72,800 early Thursday, well below the roughly $83,400 per coin implied by Rumble's September 30 valuation. At that price, its remaining 94.68 bitcoin would be worth about $6.9 million.

Whether Rumble maintains a token stash or sells the rest is a question its next quarterly report should answer.