Rumble (RUM) Sells Two-Thirds of Its Bitcoin as AI Cloud Business Delivers First Profitable Quarter

Bitcoin Magazine

Rumble (RUM) Sells Two-Thirds of Its Bitcoin as AI Cloud Business Delivers First Profitable Quarter

RUM Group, the parent of video platform Rumble, cut its bitcoin holdings by about two-thirds in the third quarter, the company disclosed Wednesday, as its newly acquired AI cloud business pushed it to its first profitable quarter on an adjusted basis.

The Nasdaq-listed company held 94.68 bitcoin, valued at $7.9 million, as of Sept. 30. That compares with 293.14 bitcoin worth about $17.2 million at the end of June, according to its second-quarter results.

That implies Rumble parted with roughly 198 bitcoin during the quarter, or about 68% of its stack.

The company’s cash-flow statement shows a net sale of digital assets of about $15.3 million for the first nine months of 2026. In the same period a year earlier, it spent $19.1 million buying digital assets.

Rumble did not explain the sales in its release, and it did not say what price it received. The balance sheet’s digital assets line, which the release does not break down, fell to $11.1 million from $18.5 million at the end of 2025.

Rumble’s AI pivot takes over

The bitcoin drawdown came in a quarter dominated by Quake AI, the cloud and AI infrastructure unit Rumble built around Northern Data, the German GPU operator it acquired in June.

Revenue rose 290% from a year earlier to a record $96.6 million, beating the top of the company’s guidance range. Quake AI contributed $68.2 million of that, more than 70% of the total, in its first full quarter. The unit runs about 22,000 Nvidia GPUs, which the company said were about 85% utilized.

Adjusted EBITDA came in at $4.4 million, the first positive result in company history. On a GAAP basis, RUM Group still lost $89.9 million, weighed down by $85.2 million in amortization and depreciation. Executives said on the call that about $39 million of that came from writing up the value of 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.”