Bitcoin Mining Stocks Soar as Miners Add Billions in BTC Holdings

Crypto markets rebounded in August, lifting Bitcoin mining stocks by as much as 67%. This surge outpaced most AI-linked infrastructure stocks, which rose between 15% and 21%, according to BlocksBridge Consulting. The rally was attributed to an expansion of US Treasury liquidity-supporting buybacks, renewed regulatory optimism following a White House crypto meeting, and a sharp short squeeze that liquidated more than $1.6 billion in positions.

Miners with greater exposure to AI and high-performance computing were flat or declined, while those with direct Bitcoin exposure saw significant gains. Strive and Strategy added billions of dollars' worth of Bitcoin to their corporate treasuries during this period, with Strive buying 1,800 BTC for approximately $143 million and Strategy acquiring another 4,603 BTC.

Bitmine is closing in on owning 5% of Ether's circulating supply despite sitting on roughly $5.1 billion in unrealized losses on its Ether holdings. The company has been accumulating Ether since last year, adding 53,501 ETH last week alone, and now owns more than 5.9 million ETH valued at approximately $14.8 billion.

A consortium of 21 major financial institutions, including Bank of America, Goldman Sachs, and Citi, plans to establish a new company to develop and issue stablecoins for cross-border payments and digital asset settlement by 2027.