American Bitcoin Corp., the cryptocurrency mining company co-founded by Eric Trump and Donald Trump Jr., has brought 11,298 new Bitcoin mining machines online at its Drumheller, Alberta facility, boosting the company’s total mining capacity to 28.1 exahash per second.
The deployment, completed April 22, adds 3.05 EH/s of mining power to the NASDAQ-listed company’s operations. The new machines operate at 13.5 joules per terahash, making them more efficient than the company’s fleet average of 16.0 J/TH.
American Bitcoin’s stock surged 11.7% following the announcement, reaching $1.38 per share and adding approximately $134 million to its market capitalization, which hit $1.51 billion.
Strategic expansion amid industry pivot
The Alberta expansion represents a doubling down on Bitcoin mining while many competitors shift resources toward artificial intelligence and data center operations.
“Scaling hashrate is one of the ways we strengthen our position in Bitcoin,” said Eric Trump, the company’s 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.”
The company now operates approximately 89,242 miners across its facilities, positioning it among the more aggressive expansion stories in the public Bitcoin mining sector.
Financial challenges and recovery
The deployment comes as American Bitcoin works to recover from significant losses. The company, a majority-owned subsidiary of Hut 8 Corp., posted a $59.5 million loss in Q4 2025, largely due to a $227.1 million decline in the fair value of its Bitcoin holdings during a sharp price drop.
Despite the losses, American Bitcoin said it mined Bitcoin at a 53% discount to spot market prices during the period. The new, more efficient machines are expected to improve mining profitability if market conditions stabilize.
The original purchase of the mining equipment was announced in March, part of the company’s strategy to build what it calls “America’s Bitcoin infrastructure” through integrated mining operations and accumulation strategies.
