Bitcoin Miner Stocks Rally as Crypto Demand Returns
Bitcoin (BTC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Bitcoin’s August rally has revived beaten-down mining stocks, reversing the recent trend favoring AI pivots. BlocksBridge Consulting noted in its Miner Weekly newsletter that Bitcoin’s roughly 23% weekly rally outpaced most AI-linked infrastructure stocks. Canaan, American Bitcoin, and Cango gained between 41% and 67%, while CoreWeave rose 21%, Nebius gained 17%, and IREN advanced 15%.
Some miners with heavier AI exposure remained flat or declined. BlocksBridge cited three catalysts: the US Treasury Department’s Aug. 19 announcement on doubling liquidity-support buybacks for longer-dated securities, regulatory optimism from a White House meeting where President Donald Trump urged Congress to pass a “fair version” of the CLARITY Act, and a sharp short squeeze. Over $1.6 billion in crypto positions were liquidated over 24 hours during the breakout.
These findings echoed earlier Cointelegraph reporting that Bitcoin’s rally lifted crypto-related stocks. The gains underscore how strongly Bitcoin’s price still influences mining stocks despite their shift toward AI and HPC infrastructure. Publicly traded miners have invested roughly $15 in AI data centers for every $1 in AI-related revenue generated. Nine public miners generated $341.2 million in AI and HPC revenue in 2026 against $5.11 billion in capital expenditures.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 28 August 2026. Not the outlet's figures.
Whalio’s spot data shows Bitcoin trading at $80,249.58 with a 1-hour buy ratio of 53.6% and a 4-hour buy ratio of 50.1%. These short-term readings indicate stronger buying pressure compared to the 24-hour buy ratio of 45.2%, suggesting recent inflows are outweighing outflows. The 1-hour volume delta is positive at +$1,905,004, while the 4-hour delta is +$291,505, contrasting with a negative 24-hour delta of -$123,102,218. This means that while net selling has dominated the full day, aggressive buying has emerged in the last few hours. The 24-hour spot volume stands at $1,297,370,375 across nearly 5 million trades. Net buying occurred for only 5 of the last 24 hours, highlighting the recent shift in momentum.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What BTC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.1%, making the current 24-hour ratio of 45.2% a 5.8-point drop from the weekly norm. Trading volume was recorded at 0.65x the average, indicating a quieter market than usual. Price increased by 9.9% over the 8-day period, with a total volume delta of +$171,556,665. This recent day is less active than the weekly average in terms of volume but shows a reversal in the buying ratio trend. The weekly context shows consistent net buying across 5 of 7 days, supporting the current price gains despite lower relative volume.