American Bitcoin ($ABTC) Opens 11,000 New Bitcoin Miners, Expands Hashrate Power
Shares of American Bitcoin Corp. (ABTC) grew today after the company announced that it had completed the commissioning of more than 11,000 new mining machines at its Drumheller facility, significantly increasing its operating capacity.
The company said it brought about 11,298 additional ASIC miners online, adding about 3.05 exahashes per second (EH/s) to its active hashrate. The deployment marks the completion of a previously announced expansion plan and pushes the total active American Bitcoin fleet to nearly 25.0 EH/s on nearly 59,000 active machines.
Including idle inventory, the firm now has about 89,242 miners capable of producing up to 28.1 EH/s, placing it among the most aggressive issues in the public Bitcoin mining sector.
The newly installed equipment operates at an efficiency of 13.5 joules per terahash, improving the ship’s efficiency. After expansion, the company’s efficiency is estimated at 14.1 J/TH, while its full fleet is estimated at 16.0 J/TH.
“Increasing the hashrate is one of the ways we’re strengthening our position in Bitcoin,” said Eric Trump, the company’s co-founder and chief strategy officer. He added that the deployment reflects a strategy focused on targeted capital allocation and quick execution to increase Bitcoin exposure at scale.
ABTC shares are rising along with Bitcoin
The announcement sparked a sharp market reaction, with ABTC shares jumping double digits in early trading. The rally extends a broader upward trend in the stock, which has gained significantly over the past month as investors responded to both the growth in performance and rising Bitcoin prices.
American Bitcoin, majority owned by Hut 8 Corp., operates on a business model that focuses on accumulating Bitcoin through mining rather than simply selling the product on the market. The company has focused on producing Bitcoin at a cost below its nominal value, a strategy it says improves long-term shareholder value.
Drumheller’s expansion is part of that approach, which includes hardware efficiency and energy cost optimization. By increasing hashrate while keeping operating costs low, the company aims to scale its Bitcoin value per share.
American Bitcoin said Drumheller’s deployment represents the operational end of its March expansion plan, reflecting a shift to improving output from its existing facilities instead of quickly adding new capacity.
On top of this, Bitcoin rose above $79,000 and Strategy’s stock rose more than 25% in five days amid the company’s aggressive fundraising strategy. The firm bought 34,164 BTC for $2.54 billion, bringing its total value to 815,061 BTC and making it the largest Bitcoin investor.
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