Rumble Group reduced its bitcoin holdings by approximately 68% during the third quarter. As of September 30, the company held 94.68 bitcoin, valued at $7.9 million, compared to 293.14 bitcoin worth $17.2 million at the end of June.
The company reported record revenue of $96.6 million, a 290% increase year-over-year. The Quake AI unit, which utilizes approximately 22,000 Nvidia GPUs, contributed $68.2 million to this total. This performance helped the firm achieve its first positive adjusted EBITDA of $4.4 million.
Despite the growth in AI operations, the company's video segment generated $28.4 million in revenue with an adjusted EBITDA loss of $12.1 million. Total cash and cash equivalents decreased to $134.4 million by the end of September, down from $203.3 million at the end of June.
Rumble increased its stake in Northern Data to approximately 98% during the quarter and expects full ownership by early 2027. The company projects fourth-quarter revenue to be between $88 million and $94 million.
