American Bitcoin Corp. saw its stock surge after the Trump-backed miner brought 11,298 machines online at its Drumheller facility in Alberta, pushing the company’s owned hashrate to 28.1 EH/s across 89,242 miners.
The newly activated units raise American Bitcoin’s fleet efficiency to an average of 16.0 J/TH (joules per terahash), a key metric for power consumption and cost control in mining. The Drumheller deployment completes expansion plans the company first announced on March 3 and reflects its strategy of scaling self-mining to accumulate Bitcoin below market cost.
Market reaction was immediate: ABTC shares jumped more than 13% intraday, trading around $1.41, and are up roughly 49% over the past month after bottoming at $0.77 on March 30. Management framed the move as execution on capital discipline and institutional-scale growth. “Scaling hash rate is one of the ways we strengthen our position in Bitcoin,” said Eric Trump, co-founder and Chief Strategy Officer. “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.”
American Bitcoin emphasizes low-cost accumulation through self-mining: the company reported mining Bitcoin at a 53% discount to spot prices in Q4 2025, helping build a treasury of more than 7,000 BTC—valued at about $552 million, per the company. “This deployment reflects our operating model in practice, turning execution and efficiency gains into lower-cost Bitcoin accumulation for shareholders,” said President Matt Prusak.
The miner operates as a majority-owned subsidiary of Hut 8 Corp. and bills itself as a Bitcoin accumulation platform building “America’s Bitcoin infrastructure” through scaled self-mining. The Drumheller expansion also comes as lawmakers renew attention on domestic mining: senators recently introduced a “Mined in America” bill intended to support the U.S. mining industry, a legislative backdrop that could benefit companies focused on domestic capacity and supply-chain resilience.
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