American Bitcoin deployed 11,298 new ASIC miners at its Drumheller, Alberta facility on Wednesday, sending the stock up roughly 12% to $1.38.
The deployment completes a fleet expansion the company first announced on March 3, 2026. The miners were originally purchased weeks after ABTC reported a $59.5 million loss for Q4 2025.
With the new rigs online, ABTC’s total fleet has grown to approximately 89,242 ASICs. Total hashrate now sits at 28.1 exahashes per second (EH/s), with an average fleet efficiency of 16 joules per terahash (J/TH).
The newly added machines contribute an incremental 3.05 EH/s at a rated efficiency of 13.5 J/TH — better than the fleet average. The company said this lowers its electricity cost per coin mined.
“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,” said Eric Trump, co-founder and chief strategy officer.
The move is a deliberate doubling down on Bitcoin mining at a time when several competitors are reallocating infrastructure toward artificial intelligence and AI data centers.
ABTC has been steadily growing its BTC holdings alongside its mining capacity. On March 18, the company raised its holdings to 6,899 BTC, overtaking Galaxy Digital to become the 16th-largest Bitcoin holder. By March 30, that figure had climbed to 7,000 BTC.
The Q4 2025 loss of $59.5 million was driven largely by a $227.1 million decline in the fair value of its BTC holdings. Bitcoin dropped over 50% at one point, hitting a low of around $60,000 in February when ABTC filed its results with the SEC.
Despite that, the company said it was able to mine Bitcoin at a 53% discount to spot market prices during the period.
Bitcoin miners across the board are under pressure. The April 2024 halving cut block rewards, energy costs have risen, and crypto prices have been sliding.
Public mining companies including MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer collectively sold around 32,000 BTC in Q1 2026 — more than the total sold across all of 2025. That surpassed the previous record of 20,000 BTC sold during Q2 2022.
ABTC’s stock rose to $1.38 on Wednesday following the Drumheller deployment announcement.
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