Crypto: Bitcoin Takes Back the Lead From AI as Companies Start Accumulating Again
The crypto rally is reviving Bitcoin miners, prompting Strategy and Strive to accumulate BTC and bringing BitMine close to 5% of Ether’s supply.
August’s crypto rally has reshuffled Wall Street’s priorities. Bitcoin miners that spent much of the year promoting their artificial intelligence data centers surged by as much as 67%. Strategy and Strive bought an additional 6,403 BTC, BitMine is nearing 5% of Ether’s supply, and 21 financial institutions are preparing their own stablecoin. Capital is decisively flowing back into digital assets.
Crypto: Miners Become Bitcoin Bets Again
Bitcoin gained around 23% during its sharp late-August acceleration. Several mining stocks performed much better: Canaan, American Bitcoin and Cango rose by 41% to 67%.
That marks an interesting reversal after months in which Bitcoin miners were primarily seeking growth through artificial intelligence.
CoreWeave gained only around 21% over the same period, Nebius 17% and IREN 15%. Some groups with significant exposure to AI computing even stagnated or declined.
The market therefore appears to be paying a premium for direct exposure to Bitcoin again.
Three factors helped: U.S. Treasury bond buybacks, an improving regulatory climate in Washington and a short squeeze that liquidated more than $1.6 billion in positions.
AI has not disappeared. As soon as BTC accelerates decisively, it simply stops being the only story capable of driving miners higher.
Strategy and Strive Bring the Billions Back
Treasury companies did not wait long.
Strive bought 1,800 BTC for approximately $143 million, at an average price of $79,431. Its holdings now stand at 23,156 BTC, making it the fifth-largest publicly listed Bitcoin holder.
Strategy added 4,603 BTC at $80,318 each, for approximately $370 million.
The move came just after a far more surprising sequence: Strategy had sold 6,916 BTC at around $62,500 before returning to buy above $80,000.
Its holdings now exceed 845,000 BTC.
Ethereum has its own equivalent. BitMine has just added 53,501 ETH after 65 consecutive weeks of purchases. With more than 5.9 million ETH, the group controls approximately 4.9% of the circulating supply.
Huge concentration. And huge risk: its unrealized losses are estimated at around $5.1 billion.
Banks Are Building Their Own Crypto Too
The most structural shift may be coming from elsewhere.
Twenty-one financial institutions, including Bank of America, Goldman Sachs, Citi and Standard Bank, want to create a joint venture to launch a dollar stablecoin in the first half of 2027.
The project will then target other G7 currencies, with the euro first in line. The stablecoins are intended for cross-border payments and the settlement of digital assets.
The consortium has officially confirmed this strategy and intends to comply with both the U.S. GENIUS Act and MiCA in Europe.
For Africa, the symbolism is already significant: Standard Bank will be the only African member among these 21 institutions.
That, ultimately, is what the current crypto rally is saying. Miners are turning back toward Bitcoin, treasury companies are concentrating more of their balance sheets, and banks are building their own blockchain-based dollars.
AI remains a massive investment engine. But when Bitcoin wakes up, Wall Street quickly remembers why it came to crypto in the first place.
À propos de l’auteur
Gregoire Lacroix
Grégoire Lacroix est analyste et rédacteur chez BrefCrypto, spécialisé dans les cryptomonnaies et les marchés numériques. Il se concentre sur Bitcoin, l’analyse de marché, les cadres réglementaires et l’adoption réelle de la blockchain. Son travail privilégie une lecture stratégique et factuelle, orientée usage et impact économique. Il apporte un regard expert sur l’écosystème crypto africain, entre opportunités, risques et structuration du marché.
