Bitcoin’s recovery in August 2026 put corporate crypto positioning back at the center of the market. Cointelegraph’s weekly Crypto Biz column said bitcoin mining-related equities outperformed AI-themed names, Strategy and Strive bought more than 6,400 BTC combined, Bitmine extended its ether buying streak to 65 straight weeks and pushed its holdings close to 5% of Ethereum’s circulating supply, while 21 major G7 banks moved ahead with a stablecoin initiative.
Mining-linked stocks rose as much as 67% in August
Bitcoin’s August rebound brought renewed attention to mining-related stocks that had been under pressure for months. In its latest report, BlocksBridge Consulting said bitcoin’s gain of about 23% in late August outpaced most AI infrastructure stocks.
Among the miners and mining-linked companies, Canaan, American Bitcoin and Cango posted gains ranging from 41% to 67% for the month. CoreWeave rose about 21%, Nebius gained 17%, and IREN added 15%. Some mining-related names with heavier exposure to AI and high-performance computing were flat or declined.
BlocksBridge pointed to three catalysts behind the rebound: the U.S. Treasury’s expanded liquidity-support bond buyback plan, a recovery in regulatory optimism after the White House crypto meeting, and short covering that triggered more than $1.6 billion in liquidations of bearish positions. The report said this suggested investors may again be favoring direct bitcoin exposure over AI-transition narratives. Even so, mining companies still face competitive pressure from the high capital spending tied to AI data centers.
Strive and Strategy bought more than 6,400 BTC combined
In the final week of August, Strive and Strategy both stepped up bitcoin purchases.
Strive bought 1,800 BTC between Aug. 24 and Aug. 28, spending about $143 million at an average purchase price of $79,431 per coin. That lifted its total holdings to 23,156 BTC, surpassing Bullish and making it the fifth-largest publicly listed corporate bitcoin holder in the world. The week before, Strive had also bought 1,110 BTC at an average price of $73,409, showing that the pace of accumulation had not slowed.
Strategy resumed buying after four sales in May, purchasing 4,603 BTC at an average price of $80,318. Its total holdings moved above 845,000 BTC. The timing of those purchases roughly matched the recovery in crypto assets that followed the U.S. Treasury’s Aug. 19 announcement that it would double buybacks for some long-dated bonds.
Bitmine extended its ETH buying streak to 65 weeks
Bitmine’s ether accumulation campaign also advanced. The company bought another 53,501 ETH last week, extending its uninterrupted buying streak to 65 weeks.
Bitmine now holds more than 5.9 million ETH. At an ether price of $2,511 at the time, that stake was worth about $14.8 billion and represented 4.9% of Ethereum’s circulating supply of 120.7 million ETH.
Tom Lee, chairman of Bitmine’s board, said ether, bitcoin and Solana had been the three best-performing assets since June 30, with ether leading the group. 「We believe this paves the way for institutions to increase crypto-asset exposure, as these assets have significantly outperformed other macro assets.」
Still, DropsTab data showed Bitmine was sitting on about $5.1 billion in unrealized losses on its ether position, reflecting continued accumulation since the bear market that began in late 2022.
Twenty-one major banks are advancing a G7 stablecoin project
Another front in corporate crypto strategy is taking shape in traditional finance. Bank of America, Goldman Sachs, Citi and 18 other major financial institutions are planning to set up a new company to develop and issue stablecoins.
The project is expected to launch a U.S. dollar stablecoin in the first half of 2027, then expand into other G7 currencies, with the euro identified as the next target. The stablecoins are aimed at wholesale, institutional and retail markets, with use cases including cross-border payments and digital-asset settlement.
The initiative extends an exploration launched last October by 10 banks, which focused at the time on a public-blockchain digital currency backed by 1:1 reserves. The current cross-border alliance spans North America, Europe, East Asia, the Middle East and Africa, and it plans to align with the U.S. GENIUS Act and the European Union’s MiCA regulatory framework.
Several corporate crypto tracks are moving at once
This week’s Crypto Biz column sketched several parallel tracks in corporate crypto adoption. Mining-related stocks outperformed some AI names in August, Strategy and Strive kept adding bitcoin, Bitmine pushed its ether stake close to 5% of circulating supply, and major banks moved stablecoin issuance toward a multinational structure.
The original article said these four developments together signal that enterprise use of crypto assets is moving from proof of concept toward scale. It framed mining stocks, corporate BTC treasury strategies, large ETH holdings and bank-led stablecoins as separate tracks driven by the same broad shift: crypto is increasingly being treated as a capital-allocation option rather than a fringe speculative trade.