Shares of American Bitcoin Corp (ABTC) surged approximately 12% to $1.38 on Wednesday following the company's announcement of a significant expansion of its Bitcoin mining capacity. The firm has fully deployed nearly 11,300 new Bitcoin mining rigs at its Drumheller facility in Alberta, Canada.
This deployment increases the company's total mining fleet to approximately 89,242 ASIC machines, adding an incremental 3.05 exahash per second (EH/s) to its operational hashrate. A key feature of the new rigs is their high efficiency, operating at 13.5 joules per terahash (J/TH). Company executives highlighted that this efficiency level directly reduces electricity costs per Bitcoin mined, a critical factor for maintaining profitability as network mining difficulty continues to rise.
Eric Trump, co-founder and Chief Strategy Officer of American Bitcoin, commented on the strategic move: "Bringing these miners online at Drumheller reflects exactly how we intend to lead: moving quickly, allocating capital with discipline, and growing our Bitcoin exposure efficiently at institutional scale."
The company confirmed that this deployment marks the operational completion of a fleet expansion plan first announced on March 3, 2026. This move signals a continued commitment to scaling Bitcoin mining operations, even as other industry players pivot capital and infrastructure towards artificial intelligence (AI) and data centers.
Concurrently, American Bitcoin has been aggressively growing its Bitcoin treasury. The firm reported holding 6,899 BTC on March 18, which positioned it as the 16th-largest corporate Bitcoin holder, surpassing Galaxy Digital. By March 30, the company further increased its treasury holdings to 7,000 BTC.
