We compute the perturbative corrections to the HQET sum rules for the matrix element of the ∆B = 2 operator that determines the mass difference of B 0 ,B 0 states. Technically, we obtain analytically the non-factorizable contributions at order α s to the bag parameter that first appear at the three-loop level. Together with the known non-perturbative corrections due to vacuum condensates and 1/m b corrections, the full next-to-leading order result is now available. We present a numerical value for the renormalization group invariant bag parameter that is phenomenologically relevant and compare it with recent lattice determinations.