American Bitcoin Shares Spike After Trump-Backed Firm Activates 11K BTC Miners

In brief

• American Bitcoin Corp. completed activation of approximately 11,298 Bitcoin miners at its Drumheller facility in Alberta, Canada.
• The deployment added 3.05 EH/s of hash rate, bringing total owned capacity to 28.1 EH/s.
• American Bitcoin shares soared Wednesday morning following the announcement.

American Bitcoin Corp. (ABTC) said Wednesday that it activated 11,298 Bitcoin miners at its Drumheller facility in Alberta, Canada, expanding the company's total owned hashrate to 28.1 EH/s across 89,242 machines. And the Trump-backed firm’s shares are soaring following the announcement.

The deployment fulfills expansion plans the company first announced on March 3. With the Drumheller activation complete, American Bitcoin's owned fleet operates at an average efficiency of 16.0 J/TH.

"Scaling hash rate is one of the ways we strengthen our position in Bitcoin," said Eric Trump, co-founder and Chief Strategy Officer at American Bitcoin, in a statement. "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."

ABTC shares have jumped more than 13% since markets opened Wednesday, recently trading at $1.41. Shares have surged 49% over the last month, rising after hitting a low of $0.77 on March 30.

The Drumheller expansion advances American Bitcoin's core strategy of accumulating Bitcoin through self-mining at below-market costs. The company said it mined Bitcoin at a 53% discount to spot prices in the fourth quarter of 2025. This mining-focused approach has built American Bitcoin's treasury to over 7,000 BTC, valued at approximately $552 million.

“This deployment reflects our operating model in practice, turning execution and efficiency gains into lower-cost Bitcoin accumulation for shareholders,” said American Bitcoin President Matt Prusak, in a statement.

American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp., operates as a Bitcoin accumulation platform building what it calls America's Bitcoin infrastructure through scaled self-mining.

The deployment coincides with renewed legislative support for domestic Bitcoin mining. Senators recently unveiled a "Mined in America" bill aimed at boosting the sector.