Andrew Yang's Noble Mobile Acquires Helium Mobile, Leaving HNT and DAO Intact

Noble Mobile, the carrier startup founded in 2025 by former presidential candidate Andrew Yang, has acquired the consumer mobile business of Helium Network HNT$0.246+0.6% from Nova Labs. The deal, announced June 2, separates Helium Mobile's subscriber operations from the broader Helium Network protocol and explicitly leaves HNT and the MOBILE token under the purview of the Helium DAO, untouched by the transaction.

Financial terms were not disclosed by either company.

How the Helium Network–Noble Mobile Split Is Structured

The acquisition transfers the consumer-facing business (subscribers, branding, app, and support channels) to Noble Mobile, while Nova Labs retains its non-mobile operations: the carrier data offloading program that routes traffic from AT&T, Telefonica, and other major carriers onto the Helium Network's roughly 139,000 mobile hotspots. According to Decrypt, the network serves over 2.6 million daily users and generates more than $47,000 daily in revenue.

The on-chain infrastructure remains Solana-based, with all network operations settled on Solana. The token economy (HNT rewards, MOBILE token distribution, and governance) stays with the Helium DAO. Noble Mobile's role is strictly as the consumer retail layer: selling plans, handling customer accounts, and building the subscriber base.

The structure reflects a pattern DePIN projects have long theorized but rarely executed: separating protocol governance from product distribution. A crypto-native network hands off the hardest part of telecom (acquiring and retaining paying consumers) to an operator whose business model was built around exactly that problem.

Noble Mobile's Business Model and Subscriber Base

Noble Mobile launched in 2025 with a $50-per-month unlimited data plan using leased T-Mobile spectrum. The company raised $10.3 million in seed funding from Corazon Capital in September 2025, according to Fortune, and built a cashback model in which customers who use fewer than 20 gigabytes monthly receive a partial refund. Helium Mobile's model (affordable connectivity backed by a decentralized network) fits that positioning closely.

Yang told Fortune the deal was not something Noble was actively seeking: "We certainly were not looking [to acquire a mobile network business], but when our conversations with Helium sped up and deepened, we knew it was the right thing to do."

Helium Mobile had accumulated nearly 600,000 cumulative sign-ups by the time of the deal, according to Fortune, though the company acknowledged it had not yet reached profitability as a standalone carrier. The service launched nationwide in December 2023 and discontinued a free plan in May 2026 before the acquisition was announced.

For existing subscribers, the transition is designed to be seamless: same phone number, same SIM, same T-Mobile 5G and Helium Network coverage, same pricing. The Helium Mobile brand continues under Noble Mobile's ownership.

Nova Labs Pivots to Carrier Offloading and Network Expansion

With the subscriber business off its books, Nova Labs is directing its focus toward expanding the Helium Network as a connectivity platform for established carriers. The offloading business (in which subscribers on major networks are automatically rerouted to nearby Helium hotspots) represents the larger addressable market, and current partnerships with AT&T and Telefonica demonstrate that major carriers will pay for access to decentralized coverage infrastructure.

Helium COO Frank Mong framed the handoff as a deliberate strategic choice: "Our network business is the largest opportunity in front of us," he told Decrypt. On the subscriber side, he said Noble Mobile was chosen from roughly ten interested parties because of alignment on values: "Our subscribers deserve a home that shares our conviction that connectivity should be affordable and accessible to everyone."

HNT Down 7% on Announcement Day

HNT fell approximately 7% on the day of the announcement, trading near $0.64, according to Decrypt. The token had declined roughly 28% over the prior 30 days. No named analyst attributed a specific cause for the move.

The DAO governance separation was explicit in all three announcements: token rewards continue, cloud points remain accessible, and hotspot operators' economics are not affected by the carrier-side transaction.

The timing follows Helium Mobile crossing $20 million in annualized revenue, a milestone reported here June 1.

An AMA with Andrew Yang and the Noble Mobile team is scheduled for June 12, 2026 at 12 PM ET for Helium Mobile subscribers.