IREN, CIFR and BITF Among BTC Miners Posting Gains Alongside AMD

The wave of huge contracts within the synthetic intelligence (AI) and high-performance computing (HPC) sector continues, with the most recent coming from OpenAI, which has agreed to purchase tens of billions of {dollars} price of chips from Advanced Micro Devices (AMD).

The deal, in response to the Financial Times, may additionally see OpenAI purchase as much as a ten% stake in AMD over time. AMD shares surged round 30% at the moment altering fingers at about $225.

The chips bought underneath this settlement will present a complete computing energy capability of 6 gigawatts (GW). OpenAI executives estimate that 1 GW of capability prices roughly $50 billion to develop, together with chips and the required supporting infrastructure, in response to the article.

As a end result, shares of AI and HPC-focused miners usually rally on the again of such large-scale offers and infrastructure buildouts.

During Monday’s U.S. open: Bitfarms (BITF) gained 8%, IREN (IREN) rose 12% to commerce at all-time highs round $56, Hive Digital (HIVE) superior 12%, Cipher Mining (CIFR) climbed 7%, CleanSpark (CLSK) added 5%, and TerraWulf (WULF) was additionally up 5%.

Galaxy Expanding into AI/HPC

Galaxy Digital (GLXY) has emerged as a key beneficiary of the speedy re-pricing within the AI and HPC infrastructure sector, having transformed its Helios campus right into a large-scale AI/HPC information heart.

In August, the firm secured $1.4 billion in venture financing to retrofit the ability and signed a long-term lease with CoreWeave (CRWV) overlaying as much as 800 MW of compute capability.

It’s shares had been additionally increased by 5% on Monday because the AMD information mixed with the corporate’s launch of GalaxyOne, a brand new wealth administration platform providing 4% yield on FDIC-insured money and seamless auto-investment into crypto and U.S equities.

GLXY shares are actually up 116% year-to-date.