Summary
- Noble Mobile, led by Andrew Yang, has acquired Helium Mobile, a telecom provider leveraging the blockchain-based Helium network.
- The specifics of the deal remain undisclosed, but COO Frank Mong assured subscribers of a seamless transition.
- Nova Labs will shift its focus towards expanding the Helium network and attracting new partners.
Helium Mobile, known for its mobile services powered by the decentralized Helium network, is now part of Noble Mobile, a telecommunications company emphasizing affordability, founded by Andrew Yang, a former presidential candidate.
Previously, Helium Mobile offered a complimentary mobile plan, which it has recently discontinued. The company is committed to providing cost-effective services as it aims to challenge major players in the mobile industry.
Frank Mong, Helium Mobile's COO, expressed, “Our attraction to Noble Mobile stemmed from our shared values, vision, and the leadership of the organization,” in an interview with Decrypt.
He added, “Our subscribers deserve a provider that believes connectivity should be both affordable and accessible. Noble Mobile represents that belief, assuring us that our customers will be well cared for in the long run.”
Mong reassured Helium Mobile users that the transition would be smooth, allowing them to retain their phone numbers and continue using the same T-Mobile powered 5G network. The service is also supported by the Helium network, which is based on Solana and consists of hotspots deployed globally, which Noble will continue to utilize as part of the acquisition.
The “crowd-sourced” cellular network comprises approximately 139,000 mobile hotspots functioning as mini cell towers. This network has been leveraged by companies like AT&T and Telefonica to enhance their coverage.
This opportunity is a priority for Nova Labs, the organization behind the Helium network and Helium Mobile service.
Mong stated, “Our network business represents the most significant opportunity ahead. We have recently integrated major U.S. carriers to manage traffic efficiently, and the Helium network serves millions of users on a daily basis. To leverage this growth, we needed to ensure Helium Mobile had the right management while we concentrate on expanding the network.”
The acquisition does not alter the Helium network’s operational model, which compensates hotspot operators with a Solana-based HNT token for providing coverage to carriers and subscribers. The mobile network currently has over 2.6 million daily users and generates more than $47,000 in daily revenue, according to Helium World’s dashboard.
As of now, HNT has experienced a nearly 7% decline in value, trading at around $0.64, reflecting a 30-day drop of approximately 28%.