BlockBeats says the late-August bounce in crypto got companies buying more. As Bitcoin climbed, miners that had earlier swerved toward AI turned into high-beta BTC proxies again. And the old balance-sheet move—just holding Bitcoin directly—snapped back into focus.
Market Performance: Mining Stocks Outperform AI Companies
The numbers are pretty blunt. Bitcoin jumped about 23% in late August, while some mining stocks ripped 41% to 67%, beating several AI infrastructure firms. The move is tied to the U.S. Treasury widening its bond buyback program, upbeat signals from the White House on crypto regulation, and the wipeout of more than $1.6 billion in short positions.
Corporate Accumulation: Strive and Strategy Bulk Up BTC
Companies were buying, too. Strive picked up 1,800 BTC in the last week of August, spending about $143 million. That pushed its total stash to 23,156 BTC and made it the fifth-largest publicly traded bitcoin holder. Strategy bought another 4,603 BTC over the same stretch, taking its total to more than 845,000 BTC.
Institutional Move: 21 Banks Plan Dollar Stablecoin
At the same time, 21 big financial institutions—including Bank of America, Goldman Sachs, and Citigroup—are preparing to create a new company to launch a dollar stablecoin in the first half of 2027. The plan then expands to other G7 currencies for cross-border payments and digital asset settlement.
Ethereum Accumulation: Bitmine Keeps Buying, Faces Unrealized Losses
Ethereum tells a different story. Bitmine has added to its ETH position for 65 straight weeks and now holds more than 5.9 million ETH. That equals 4.9% of the circulating supply, which stands at about 120.7 million ETH, leaving it just under its 5% target. But even with the steady buying, the company is still sitting on about $5.1 billion in unrealized losses on those ETH holdings.