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BTC Bitcoin rebounded in August to revitalize the mining sector, with AI concept stocks lagging behind.
Bitcoin's rise since August has revitalized some of the previously deepest declining stocks in the mining sector. This trend reverses the previous market's preference for mining companies turning to artificial intelligence and high-performance computing, suggesting that investors may once again focus on companies that directly hold Bitcoin.
In the latest issue of Miners Weekly, BlocksBridge Consulting pointed out that Bitcoin's gain of about 23% in the past week has outperformed most infrastructure stocks related to artificial intelligence. Shares of three previously sluggish bitcoin miners-Jianan Technology, American Bitcoin and Cango-rose between 41% and 67%. In contrast, CoreWeave rose about 21%, Nebius rose 17%, IREN rose 15%, while some mining companies with a strong presence in artificial intelligence and high-performance computing were flat or down.
BlocksBridge summarized three catalysts for Bitcoin's rise: First, the U.S. Treasury Department announced on August 19 that it would at least double the size of liquidity-backed repurchase of long-term treasury bonds. Second, regulatory optimism rekindled after the White House met with cryptocurrency executives, with U.S. President Trump urging Congress to pass a "fair version" of the long-stalled cryptocurrency market structure bill, the CLARITY Act. Third, the Bitcoin breakthrough triggered a fierce short squeeze, and more than US$1.6 billion in cryptocurrency positions were liquidated within 24 hours.
Bitcoin price remains the core driver of mining companies 'stock prices
BlocksBridge's research results are consistent with previous reports: Bitcoin's rise has driven crypto-related stocks, including Bitcoin miners. These increases highlight the huge impact that Bitcoin prices can still have on mining companies 'share prices, even though many mining companies have shifted their focus to artificial intelligence and high-performance computing infrastructure in recent years.
Another recent analysis by BlocksBridge shows that for every US dollar of artificial intelligence-related revenue that a listed Bitcoin mining company receives, it needs to invest about US dollars in artificial intelligence data centers. So far, nine listed mining companies have achieved artificial intelligence and high-performance computing revenue of US$341.2 million in 2026, while capital expenditures on this technology during the same period have reached US$5.11 billion.
