Simply put
- American Bitcoin Corp. has successfully activated about 11,298 Bitcoin miners at its Drumheller facility in Alberta, Canada.
- This new deployment has increased their hash rate by 3.05 EH/s, raising the total capacity to 28.1 EH/s.
- U.S. Bitcoin stocks surged on Wednesday morning following this announcement.
American Bitcoin Corporation (ABTC) reported on Wednesday that it has activated 11,298 Bitcoin miners at its Drumheller facility in Alberta, Canada, which brings the company’s total hash rate to 28.1 EH/s across 89,242 machines. Following this news, the stock price for the Trump-backed company saw a significant increase.
This expansion aligns with the company’s earlier plans shared on March 3. Now that the Drumheller activation is complete, American Bitcoin’s operations are achieving an average efficiency of 16.0 J/TH.
“Scaling our hash rate is one way to solidify our presence in the Bitcoin space,” stated Eric Trump, co-founder and chief strategy officer of American Bitcoin. “Activating these miners in Drumheller demonstrates our commitment to rapid execution, disciplined capital allocation, and expanding our Bitcoin exposure on an institutional level.”
The ABTC stock has jumped over 13% since the market opened on Wednesday, with current trading at $1.41. Just last month, it had soared 49%, recovering from a low of $0.77 on March 30.
The Drumheller expansion is part of American Bitcoin’s strategy to accumulate Bitcoin through cost-effective self-mining operations. The company has previously mentioned mining Bitcoin in the fourth quarter of 2025 at a 53% discount compared to the market price, which has increased their U.S. Bitcoin holdings to more than 7,000 BTC, valued at around $552 million.
“This initiative shows our operational model in action, converting improved execution and efficiency into lower-cost Bitcoin acquisition for our shareholders,” said Matt Prusak, president of American Bitcoin.
American Bitcoin Corp., a subsidiary majority-owned by Hut 8 Corp., functions as a Bitcoin accumulation platform that develops the so-called American Bitcoin infrastructure through large-scale self-mining efforts.
This development also coincides with new legal support for Bitcoin mining in the nation, with recent bills like “Morned in America” introduced by senators aimed at rejuvenating the sector.
