Mining Stocks Rally Amid Renewed Market Optimism
Bitcoin mining equities surged Friday, with Riot Platforms (RIOT) leading the charge as shares approached multi-year highs. The rally reflects growing investor confidence fueled by strategic developments across the sector, signaling a new phase of institutional-grade expansion in U.S.-based crypto mining operations.
Decade-Long AMD Deal Secures Future Growth
Riot announced a landmark 10-year agreement with semiconductor leader AMD, centered on data center infrastructure support. The initial contract guarantees at least $311 million in revenue, with potential to reach $1 billion if extended. This partnership strengthens Riot’s technological foundation and positions it for scalable hash rate growth in the years ahead.
Strategic Land Acquisition in Texas
In parallel, the company acquired approximately 200 acres in Milam County, Texas, for $96 million. This land will support the ongoing development of its Rockdale data center complex, ensuring long-term access to power and physical space—critical components for sustainable mining operations amid rising network difficulty.
Galaxy Pushes Boundaries with Massive Expansion
Galaxy Digital (GLXY) is also accelerating its footprint, unveiling plans to expand its Helios mining facility in Texas. The project has secured approval for 830 megawatts of power connectivity, with theoretical capacity reaching up to 1.6GW—potentially making it the largest single-site mining operation in the United States. CEO Mike Novogratz confirmed the firm is evaluating additional land opportunities to meet anticipated demand for hyperscale facilities by 2030.
Industry-Wide Momentum Builds Across North America
Other key players like CleanSpark and Bitfarms are similarly expanding their U.S. infrastructure. With favorable regulatory trends, access to low-cost energy, and increasing institutional involvement, North America is emerging as the epicenter of global bitcoin mining—a shift that could redefine the industry’s operational and competitive landscape.