Bitcoin Mining Stocks Rally on AI/HPC Demand; AMD Climbs 30% After OpenAI Deal

Shares in AI, high-performance computing (HPC), and Bitcoin mining companies surged after OpenAI announced a multi-billion-dollar chip agreement with Advanced Micro Devices (AMD).

According to the Financial Times, OpenAI could also acquire up to a 10% stake in AMD over time. AMD shares jumped roughly 30%, trading near $225, as the deal provides chips delivering a total computing power of 6 gigawatts (GW). OpenAI estimates each GW of capacity costs about $50 billion, including chips and supporting infrastructure.

The news lifted AI/HPC-focused Bitcoin miners. Monday premarket gains included Bitfarms (BITF) up 8%, Iris Energy (IREN) 12% to an all-time high around $56, Hive Digital (HIVE) 12%, Cipher Mining (CIFR) 7%, and CleanSpark (CLSK) and TerraWulf (WULF) each 5%.

Galaxy Digital (GLXY) also rose 5%, benefiting from its Helios campus conversion into a large-scale AI/HPC data center and $1.4 billion in project financing. GLXY’s new GalaxyOne wealth management platform, offering a 4% yield on FDIC-insured cash and auto-investment into crypto and U.S. equities, added to investor enthusiasm. GLXY shares are up 116% year-to-date.

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