Rumble Group (NASDAQ: RUM) disclosed on Wednesday that it sold roughly two‑thirds of its Bitcoin treasury during the third quarter of 2026. The divestiture coincided with the company’s AI‑focused cloud subsidiary, Quake AI, delivering its first profitable quarter on an adjusted basis.

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Bitcoin treasury shrinkage

According to the company’s Q3 filing, Rumble held 94.68 Bitcoin valued at about $7.9 million as of September 30, down from 293.14 Bitcoin worth roughly $17.2 million at the end of June. The net sale of digital assets for the first nine months of 2026 totaled approximately $15.3 million, a reversal from a $19.1 million purchase in the same period a year earlier. The balance‑sheet line for digital assets fell to $11.1 million from $18.5 million at the end of 2025.

AI cloud unit drives profitability

Quake AI, built around the German GPU operator Northern Data acquired in June, contributed $68.2 million of Rumble’s record $96.6 million quarterly revenue, representing more than 70 % of total sales. The unit runs roughly 22,000 Nvidia GPUs at about 85 % utilization. Adjusted EBITDA turned positive at $4.4 million, marking the first such result in the company’s history, while GAAP earnings still showed a loss of $89.9 million due largely to $85.2 million in amortization and depreciation.

Cash position and outlook

Rumble’s cash and cash equivalents declined to $134.4 million at quarter‑end, down from $203.3 million three months earlier and $237.9 million at the close of 2025. The firm increased its stake in Northern Data to about 98 % and expects full ownership in early 2027. Management warned that part of the targeted 250 MW of un‑monetized capacity for 2027 could be delayed by market conditions. The company guided Q4 revenue to a range of $88 million‑$94 million.

What to watch next

Investors will be looking for Rumble’s next quarterly report to see whether the remaining Bitcoin stack is retained or further liquidated, and how Quake AI’s growth trajectory impacts overall profitability. The company’s ability to convert un‑monetized GPU capacity into revenue will also be a key metric for the upcoming year.