Rumble (RUM) Sells Two-Thirds of Its Bitcoin as AI Cloud Business Delivers First Profitable Quarter
By Micah Zimmerman
AI summary of the source article
Rumble reduced its bitcoin holdings by roughly two-thirds in the third quarter, retaining 94.68 bitcoin valued at $7.9 million as of September 30, while its Quake AI unit helped generate record revenue.
Why it matters
Its sales add to a run of companies trimming or exiting bitcoin positions as prices fall and capital shifts toward AI.
Key facts
- Rumble cut its bitcoin holdings from 293.14 bitcoin at the end of June to 94.68 bitcoin as of September 30.
- Company revenue grew 290% year-over-year to a record $96.6 million, led by $68.2 million from its Quake AI unit.
- Rumble reported its first positive adjusted EBITDA of $4.4 million, despite a GAAP net loss of $89.9 million.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Rumble (RUM) Sells Two-Thirds of Its Bitcoin as AI Cloud Business Delivers First Profitable Quarter RUM Group held 94.68 bitcoin worth $7.9 million on Sept. 30, down from 293.14 at the end of June, as its Quake AI unit drove record revenue of $96.6 million. This post Rumble (RUM) Sells Two-Thirds of Its Bitcoin as AI Cloud Business Delivers First Profitable Quarter first appeared…