Rumble sells two-thirds of its bitcoin as AI cloud unit posts first profitable quarter
AI summary
Rumble (RUM) cut its bitcoin holdings from 293.14 BTC at the end of June to 94.68 BTC worth $7.9 million on Sept. 30, selling roughly two-thirds of its treasury. The move came as its Quake AI cloud unit drove record revenue of $96.6 million and the company posted its first profitable quarter. Traders may read the sale as a corporate treasury de-risking that adds sell pressure to BTC, though the pivot toward AI revenue could reshape how the market values RUM.
