Bitcoin’s rebound in the final weeks of August shifted market attention back toward direct exposure to the asset and away from AI and high-performance computing narratives that had previously dominated investor interest in the sector. Mining stocks tied closely to Bitcoin performance advanced strongly, corporate treasuries resumed large purchases, and traditional financial institutions continued work on institutional-grade stablecoins. In parallel, one firm’s steady accumulation of Ether approached a significant share of circulating supply.

Mining Stocks Regain Leverage to Bitcoin

Bitcoin rose roughly 23% in late August, according to BlocksBridge Consulting. That move produced outsized gains for several mining equities. Canaan, American Bitcoin and Cango advanced between 41% and 67%. By comparison, AI-linked infrastructure names posted more modest results: CoreWeave rose about 21%, Nebius about 17% and IREN about 15%. Some miners with heavier AI and data-center exposure finished the period flat or lower.

BlocksBridge identified three main catalysts behind the rebound. Expanded U.S. Treasury liquidity support through bond buybacks provided a macro tailwind. Regulatory optimism followed a White House meeting on crypto. A short squeeze also liquidated more than $1.6 billion in positions. The relative performance indicated that investors were once again treating miners primarily as leveraged plays on Bitcoin rather than as diversified AI infrastructure businesses. The sector continues to face high capital costs associated with any AI data-center expansion, leaving open questions about the economics of those plans across market cycles.

Corporate Treasuries Resume Large Bitcoin Purchases

Corporate buyers also returned to the market in the final week of August. Strive acquired 1,800 BTC for approximately $143 million between Aug. 24 and Aug. 28 at an average price of $79,431 including fees and expenses. The purchases lifted the company’s holdings to 23,156 BTC, ranking it among the largest publicly traded corporate holders. In the preceding week Strive had bought 1,110 BTC at an average of $73,409, showing continued accumulation as prices rose.

Strategy resumed acquisitions after a pause, purchasing 4,603 BTC at an average price of $80,318. Those buys raised its total holdings above 845,000 BTC following four sales since May. The activity coincided with a broader digital-asset recovery that began Aug. 19 after the U.S. Treasury announced plans to double certain long-term bond buybacks. The timing illustrated how shifts in traditional liquidity expectations can quickly influence corporate appetite for crypto exposure.

Major Banks Advance G7 Stablecoin Plans for 2027

Beyond Bitcoin-linked activity, a consortium of 21 major financial institutions—including Bank of America, Goldman Sachs and Citi—intends to form a new company to develop and issue stablecoins. The group plans to launch a U.S. dollar-denominated product in the first half of 2027, followed by expansion to other G7 currencies, beginning with a euro-denominated offering. The stablecoin is designed for wholesale, institutional and retail markets, with a focus on cross-border payments and digital-asset settlement.

The initiative builds on an earlier effort announced last October by 10 banks that explored a 1:1 reserve-backed digital money model on public blockchains. The expanded consortium spans North America, Europe, East Asia, the Middle East and Africa. Participants aim to align the project with the U.S. GENIUS Act and the European Union’s MiCA regulation. The coordinated structure marks a shift from isolated pilots toward multi-institution infrastructure intended for payments and settlement use cases.

Bitmine Approaches 5% of Ether Supply

On the Ethereum side, Bitmine extended a continuous buying streak to 65 weeks by adding 53,501 ETH in the latest reported period. The purchase brought total holdings above 5.9 million ETH, valued at roughly $14.8 billion based on an Ether price of $2,511. That stake represented approximately 4.9% of Ethereum’s 120.7 million circulating supply, placing the firm near its stated goal of owning 5%.

Lee noted that Ether, Bitcoin and Solana had been the three best-performing major assets since June 30, with Ether leading the gains. Despite the accumulation, DropsTab data showed Bitmine still carrying about $5.1 billion in unrealized losses on its Ether position. The figure reflects sustained purchases through the downturn that began in late 2022.

Market participants continue to monitor whether the renewed preference for Bitcoin-linked exposure persists beyond the August recovery, how corporate treasury strategies evolve with price movements, and whether the 2027 stablecoin timeline advances from planning into concrete licensing and issuance steps.