Miner Weekly: Bitcoin Leaves the AI Trade Behind — and Three Miners Come Back to Life

Bitcoin’s sharpest weekly advance in more than three years has reordered the digital-infrastructure trade, leaving most AI-linked stocks behind and reviving a handful of bitcoin miners that only recently faced pressure to keep their shares above exchange listing thresholds.

Bitcoin gained 22.49% over the month through early August 26, according to the TradingView comparison supplied by TheEnergyMag. Among the tracked equities, only Canaan (NASDAQ: CAN), American Bitcoin (NASDAQ: ABTC) and Cango (NYSE: CANG) did better, rising 66.99%, 53.71% and 40.96%, respectively. CoreWeave (NASDAQ: CRWV) gained 21.45%, Nebius (NASDAQ: NBIS) 17.10% and IREN 14.63%, while several miners that have emphasized AI and high-performance computing finished flat or lower.

The divergence is striking because capital had flowed the other way for much of 2026. Investors rewarded contracted AI capacity, power pipelines and data-center development while bitcoin struggled through a bear market. The latest rally reversed that hierarchy: direct exposure to bitcoin suddenly outperformed the promise of future AI revenue – at least for now.

The move began with a macro catalyst, but its speed came from positioning.

On August 19, the U.S. Treasury said it would at least double the maximum size of buybacks for older 10- to 30-year government securities, to $4 billion per operation from $2 billion, starting September 9. The stated aim was to support liquidity in the long end of the bond market. Yields initially fell, helping scarce assets including bitcoin and gold. A White House meeting with crypto executives the same day added a policy tailwind as President Donald Trump urged Congress to advance digital-asset market-structure legislation.