American Bitcoin Corp. (ABTC), the publicly traded mining firm backed by the Trump family, has delivered on its expansion plan. On Wednesday (22nd), the company announced the activation of11,298 new Bitcoin mining machines at its Drumheller site in Alberta, Canada. The move, first disclosed on March 3, lifts ABTC's total fleet to 89,242 units and its self-mining hash rate to28.1 EH/s, with an average efficiency of 16.0 J/TH.
Shares Rally 49% From March Low
Investors cheered the operational milestone. ABTC's stock price surged over 13% on Wednesday morning, hitting $1.41. From a low of $0.77 on March 30, the shares have skyrocketed49% in roughly one month. The Drumheller ramp-up is the first major deployment following the company's initial announcement in early March.
Eric Trump: 'Accumulate Bitcoin at Institutional Scale'
ABTC, a majority-owned subsidiary of Hut 8 Corp., focuses on self-mining to build American Bitcoin infrastructure. Co-founder and Chief Strategy Officer Eric Trump — son of U.S. President Donald Trump — emphasized the strategy:
"Expanding hash rate is how we cement our position. These new rigs at Drumheller reflect our playbook: move fast, deploy capital with discipline, and cost-effectively build Bitcoin exposure at institutional scale."President Matt Prusak added that the deployment converts execution into low-cost Bitcoin for shareholders. ABTC mines Bitcoin at a cost53% below spot prices as of Q4 2025, and its treasury now holds over7,000 BTC, worth approximately $552 million.
Legislative Tailwind: 'Mined in America' Act
The expansion coincides with a friendlier regulatory environment. U.S. senators recently introduced theMined in America Act, aimed at boosting domestic crypto mining and reducing reliance on foreign hardware. With Trump family political capital, ultra-low production costs, and supportive policy, ABTC is positioning itself as a dominant force in the North American hash rate race.