Texas move to expand data center power supply sends BTC mining stocks soaring

Bitcoin mining stocks with exposure to the AI data center business have surged after the Public Utility Commission of Texas (PUC) approved a new framework to reform the grid connection process for large power consumers, The Block reported. Cipher Digital jumped more than 10% to a new all-time high, while Core Scientific and Riot Platforms rose over 3% and 2%, respectively. The outlet noted that Bitcoin miners, which have spent years building large-scale power infrastructure across Texas, are now expanding into AI and high-performance computing (HPC). The streamlined grid connection process could be a positive development for these companies as they grow their data center operations.