Former U.S. Presidential Candidate Andrew Yang’s Noble Mobile Acquires Helium Mobile - What Happens to $HNT?

Solana DePIN heavyweight Helium Mobile has just been acquired by Andrew Yang’s Noble Mobile, an emerging U.S. Telco who recently raised $10.3M in a seed round last September.

Noble Mobile’s acquisition of Helium Mobile has sparked confusion among Helium customers and $HNT holders. While Noble has acquired Helium Mobile, a consumer cellular product, Helium Network and $HNT token remain unaffected.

Noble Mobile Acquires Helium

Founded by former U.S. Presidential candidate Andrew Yang, Noble Mobile is an emerging U.S. telco built on that belief that consumers are paying too much for their mobile plans. Unlike the flat plans of Web2 giants, Noble sells unlimited data at $50 a month and pays users cash back for staying under 20GB.

Picking up Helium Mobile hands Noble a ready-made subscriber base and, more importantly, access to the Helium Network itself. Noble currently leases spectrum from T-Mobile, and the acquisition commits it to routing traffic over Helium's DePIN-powered coverage, which sources connectivity from over 138,900 community-run hotspots.

Blockworks data suggests that Helium burns around $50,000 worth of data credits everyday, driving ongoing sustainable value to $HNT through the network’s mint-and-burn mechanism. At press time, $HNT’s rolling 7D deflation rate sits at 9.72%, suggesting that demand for data transfer across the Helium network far exceeds issuance.

Acquisition Minutiae Sparks Confusion

The fine print of the acquisition deal has left many Helium supporters, customers, and $HNT tokenholders scratching their heads. Critics have expressed frustration and skepticism about the announcement, arguing that a decentralized network shouldn’t be able to be sold off to “one person.”

Stepping in to alleviate customer concerns, Helium co-founder Amir Haleem explained that Helium Mobile and the Helium Network are separate entities.

While Helium Mobile has been acquired, the Helium Network remains under Nova Labs’ careful guidance. The DePIN network is expected to continue operating as before, with hotspot operators and earning $HNT tokens in exchange for providing connectivity and data transfer services for leading Telco giants like AT&T.

What Does This Mean for Helium Users and $HNT

According to Helium Mobile’s announcement, existing customers and subscribers shouldn’t see any noticeable changes. Customers are able to keep their current numbers, and expect the same level of service they’ve become accustomed to.

However, lingering questions remain over changes to Helium Mobile pricing. FAQs in Helium’s Blog post assert that “affordability isn’t going anywhere”, but the firm has communicated that updates on pricing will be shared “as the transition takes shape”.

Meanwhile, $HNT and the DePIN-based mechanics powering the Helium Network will remain unchanged. Noble Mobile’s acquisition of Helium Mobile has had negligible impact on the $HNT token, which has gained 1% in the last 24-hours.

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