Bitcoin mining stocks climbed sharply on Friday, led by strong gains at Riot Platforms and Galaxy Digital, as both companies unveiled ambitious expansion plans centered in Texas. The announcements reflect a broader push by leading miners to scale up infrastructure and tap into growing demand for high-performance computing in the United States.
Riot Platforms (Nasdaq: RIOT) jumped more than 14% after revealing two major developments tied to its Rockdale, Texas operations. The company confirmed it has signed a long-term data center lease with semiconductor giant AMD and finalized the purchase of land it previously leased for its flagship site.
Under the agreement, AMD will lease roughly 25 megawatts of critical IT load capacity, with the option to scale up to 200 megawatts over time. The initial 10-year contract is expected to generate at least $311 million in revenue for Riot, with potential extensions pushing total spending toward $1 billion. The deal positions AMD as a meaningful client for Riot, which currently manages around 1.7 gigawatts of power capacity across its Texas facilities.
Alongside the AMD partnership, Riot announced it has acquired approximately 200 acres in Milam County for $96 million, securing full ownership of its Rockdale site. The purchase was funded through the sale of 1,080 bitcoin from the company’s balance sheet. By owning the land outright, Riot aims to ensure long-term operational stability as it works to convert the site’s full 700 megawatts of gross power capacity for data center use. The location also benefits from dedicated water access, fiber connectivity, and a regulatory environment the company describes as business-friendly.
Industry momentum extended beyond Riot. Galaxy Digital Holdings (Nasdaq: GLXY) also drew investor attention after Texas grid operator ERCOT approved an 830-megawatt power connection for its Helios facility. Once fully built out, the site could reach a theoretical capacity of 1.6 gigawatts, potentially making it the largest single data center campus in the United States.
Galaxy CEO Michael Novogratz said the company is already exploring additional land opportunities in Texas, citing strong future demand from hyperscalers and enterprise clients later this decade. Galaxy shares rose more than 6% on Friday, adding to a 13% gain the previous day and bringing the stock’s year-to-date increase to roughly 57%.
The rally was not limited to these two firms. Other U.S.-focused miners also reported progress this week. CleanSpark announced plans to acquire 447 acres in Texas for a large-scale data center project, while Bitfarms confirmed it is in the process of relocating its corporate domicile from Canada to the United States.
As a result, bitcoin mining stocks outperformed many other crypto-related equities on the day. Companies such as IREN, Cypher, MARA, and Riot posted solid gains, with Riot approaching a multi-year high.
