American Bitcoin Activates Over 11,000 Mining Machines in Trump-Associated Venture
ABTC initially acquired these mining machines in March, just weeks following its disclosure of a $59 million quarterly deficit in Q4 2025.
A publicly traded cryptocurrency mining firm known as American Bitcoin (ABTC), which was co-established by the sons of U.S. President Donald Trump, has successfully energized 11,298 application-specific integrated circuits (ASICs) at its mining facility located in Drumheller, Alberta, Canada.
With the addition of these newly activated machines, the firm's total ASIC count has reached approximately 89,242 units, which are specialized computers designed for mining Bitcoin (BTC) and other proof-of-work (PoW) digital currencies, as stated in the company's Wednesday announcement.
The mining operation at ABTC now delivers approximately 28.1 exahashes per second (EH/s) in total computing capacity, while maintaining an "average efficiency" rate of 16 joules per terahash, according to the firm's statement.
The stock price of ABTC experienced a significant jump of approximately 11.7% during Wednesday's trading session, climbing to roughly $1.38 per share, based on information from Yahoo Finance.
This announcement came on the heels of a difficult financial quarter for ABTC, during which the firm reported losses totaling $59.5 million in the final quarter of 2025, as the cryptocurrency mining sector continues to face numerous economic headwinds that are eroding profitability.
ABTC faces headwinds in difficult operating environment for mining sector
The cryptocurrency mining sector is currently contending with diminished block rewards following the halving event in April 2024, increasing energy expenses, and falling cryptocurrency valuations amid the current bear market conditions.
Bitcoin's market value dropped by more than 50%, hitting a bottom of approximately $60,000 in February, coinciding with when ABTC submitted its fourth-quarter financial results to the United States Securities and Exchange Commission (SEC).
The company traced its fourth-quarter losses to a $227.1 million depreciation in the fair market value of its Bitcoin reserves resulting from the market downturn, though the firm noted it managed to "mine BTC at a 53% discount" compared to spot market pricing.
Publicly listed Bitcoin mining operations disposed of more BTC during the initial three-month period of 2026 compared to the entirety of 2025.
Major mining operations including MARA, CleanSpark, Riot, Cango, Core Scientific and Bitdeer sold a combined total of approximately 32,000 BTC during the first quarter, based on data from TheEnergyMag.
The volume of Bitcoin sold during this timeframe exceeded the prior high of 20,000 BTC that public mining operations offloaded throughout the second quarter of 2022.