Bitcoin's 23% Rally Lifts Miners Past AI-Pivot Stocks — SkimNews
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- Bitcoin rallied roughly 23% in a week, outpacing most AI-linked infrastructure stocks per BlocksBridge Consulting's Miner Weekly newsletter.
- Canaan, American Bitcoin, and Cango jumped 41-67%, beating AI-heavy peers like CoreWeave (+21%), Nebius (+17%), and IREN (+15%), some of which were flat or declined.
- The US Treasury Department's August 19 announcement to at least double liquidity-support buybacks for longer-dated securities was the first of three rally catalysts BlocksBridge cited.
- At a White House meeting with crypto executives, Trump urged Congress to pass a "fair version" of the CLARITY Act, a stalled crypto market structure bill.
- A sharp short squeeze following Bitcoin's breakout liquidated more than $1.6 billion in crypto positions over 24 hours.
- Public Bitcoin miners have invested roughly $15 in AI data centers for every $1 in AI-related revenue, with nine public miners generating $341.2 million in AI/HPC revenue so far in 2026 against $5.11 billion in capital expenditures.
Why it matters: Public Bitcoin miners have invested roughly $15 in AI data centers for every $1 in AI-related revenue, yet direct BTC exposure delivered the week's biggest stock gains — a reminder that the 'miners pivot to AI' narrative still has no revenue to show for $5.11 billion in 2026 capex.
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