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

Bitcoin mining stocks have experienced a significant surge, outpacing the underlying asset’s recent movements, driven primarily by strategic corporate announcements from two industry giants: Riot Platforms and Galaxy Digital.

Riot Platforms, one of the sector’s largest players, has entered into a landmark partnership with Advanced Micro Devices (AMD). While specific financial terms remain confidential, the deal is understood to be pivotal for Riot’s future efficiency and diversification efforts. The agreement secures access to AMD’s high-performance computing (HPC) chips, which are essential not only for advanced Bitcoin mining operations but also for Riot’s burgeoning data center and AI-focused infrastructure ambitions. This move is seen by analysts as a key step towards vertical integration and mitigating supply chain risks, bolstering investor confidence in Riot’s long-term operational superiority.

Simultaneously, Galaxy Digital announced ambitious plans to drastically scale up its mining operations in Texas. Leveraging the state’s abundant, low-cost energy and pro-business regulatory climate, Galaxy Digital Mining is targeting a substantial increase in its megawatt capacity. This expansion signals a robust commitment to infrastructure growth and efficiency gains, solidifying Texas’s role as the epicenter of North American Bitcoin mining. The combined strategic actions—Riot securing chip supply and Galaxy committing massive capital to infrastructure—are interpreted as strong indicators that leading public miners are aggressively positioning themselves for long-term growth and operational dominance in the increasingly competitive post-halving environment, fueling the current rally across the sector.

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