Bitcoin mining stocks rally as Riot inks AMD deal and Galaxy targets massive expansion in Texas

Bitcoin mining stocks rallied significantly, led by Riot Platforms (RIOT) which jumped over 14% after announcing a land acquisition in Rockdale, Texas, and a 10-year data center lease with AMD. The AMD deal is valued at a minimum of $311 million, potentially reaching $1 billion, as AMD leases 25 MW capacity with an option to scale to 200 MW.

Simultaneously, Galaxy Digital (GLXY) received approval from ERCOT for an 830 MW connection for its Helios facility in Texas, potentially making it the largest single-site facility in the U.S. Galaxy's CEO noted strong demand from hyperscalers.

These developments follow other major U.S. expansion announcements from CleanSpark and Bitfarms this week, indicating a broader trend among leading mining firms to invest heavily in high-performance computing infrastructure within the United States.

(Source：The Block)