Gate News message, April 23 — American Bitcoin (ABTC), co-founded by the sons of U.S. President Donald Trump, expanded its mining operations in Alberta on April 22, bringing over 11,000 additional ASIC units online at its Drumheller facility. The deployment lifted the company’s total hashrate to approximately 28.1 EH/s, representing a 12% increase in mining capacity.
The company energized 11,298 additional ASIC miners, bringing its total fleet to roughly 89,242 units. The newly deployed machines added approximately 3.05 EH/s of computing power and operate at an average efficiency of 13.5 J/TH, compared to the company’s overall fleet average of 16.0 J/TH. Following the announcement, ABTC shares climbed 11.7% to $1.38 (AU$1.93).
Despite the stock price surge, the company faces mounting financial pressure. ABTC recorded a $59.5 million (AU$83.3 million) loss in the fourth quarter of 2025 amid challenging industry conditions, including declining Bitcoin prices, elevated energy costs, and reduced rewards following the 2024 halving event.
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