Bitcoin mining shares rebounded sharply after Bitcoin rose about 23% over the past week, reversing weakness seen earlier in the sector. According to BlockBeats, some mining stocks posted gains that exceeded those of AI infrastructure names, pointing to renewed investor interest in direct Bitcoin exposure. Canaan, American Bitcoin and Cango were up between 41% and 67% over the recent period, while CoreWeave gained about 21%, Nebius rose 17%, and IREN added 15%. Some miners that had previously shifted toward AI and high-performance computing, or HPC, were flat or down.
BlocksBridge Consulting said Bitcoin’s latest move was driven by three factors: the U.S. Treasury’s expansion of long-dated Treasury buybacks, the Trump administration’s push for Congress to pass the crypto market structure bill known as the CLARITY Act, and a short squeeze triggered after Bitcoin’s breakout. The report added that liquidations across the crypto market topped $1.6 billion within 24 hours. Even as many miners have moved into AI and HPC infrastructure in recent years, the report said Bitcoin prices still have a significant effect on mining equities. BlocksBridge previously estimated that since 2026, nine listed miners generated about $341 million in AI and HPC revenue while spending $5.11 billion in related capital expenditures.
Bitcoin mining stocks rallied after Bitcoin rose about 23% over the past week, according to a BlockBeats report published on Aug. 28. The move marked a sharp rebound for miners that had been underperforming, and some of the gains outpaced those seen in AI infrastructure stocks, suggesting renewed investor focus on direct Bitcoin exposure.
Mining stocks beat some AI infrastructure peers
Data cited in the report showed that Canaan, American Bitcoin and Cango gained between 41% and 67% over the recent period. By comparison, CoreWeave rose about 21%, Nebius gained 17%, and IREN added 15%. Some mining companies that had previously pivoted toward AI and high-performance computing, or HPC, were largely flat or traded lower.
BlocksBridge points to three drivers behind Bitcoin’s rise
BlocksBridge Consulting said the latest rise in Bitcoin was mainly driven by three factors: the U.S. Treasury’s larger buybacks of long-term Treasurys, the Trump administration’s effort to push Congress to pass the crypto market structure bill known as the CLARITY Act, and a short squeeze that followed Bitcoin’s breakout.
The report said liquidations across the crypto market exceeded $1.6 billion in 24 hours during the squeeze.
Bitcoin remains a major factor for miner valuations
Even though many mining companies have shifted toward AI and HPC infrastructure in recent years, Bitcoin prices still have a significant impact on mining stock performance, the report said.
BlocksBridge previously estimated that since 2026, nine publicly listed miners generated about $341 million in AI and HPC revenue, while related capital expenditures reached $5.11 billion. That works out to roughly $15 in average spending for every $1 of AI-related revenue.
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