Eric Trump’s American Bitcoin adds 11,298 ASIC miners – ABTC stock surges 8%
Given that most miners are currently undergoing capitulation, what does this addition tell us about American Bitcoin?
On the 22nd of April, American Bitcoin, a mining company backed by Eric Trump, added 11,298 application-specific integrated circuit (ASIC) miners. The new addition was done at the Drumheller site in Alberta, Canada.
The addition of the new Bitcoin [BTC] mining rigs contributed to 3.05 exahash per second (EH/s). This move has now brought the owned fleet of Eric Trump’s bitcoin mining company to 89,242 miners at 28.1 EH/s.
Though the current operational fleet happened at 13.5 joules per terahash (J/TH) efficiency. The average, however, has reached 16.0 J/TH, reinforcing that company’s vision of a lower-cost Bitcoin accumulator.
This, in turn, also increased the American Bitcoin miner’s total hashrate by over 12%.
“Strengthening our Bitcoin position”
Eric Trump, co-founder and chief strategy officer at American Bitcoin, in a press release, noted,
Scaling hashrate is one of the ways we strengthen our position in Bitcoin. 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.
Announced back on the 3rd of March, the Drumheller site energization marks the ‘operational completion of a fleet expansion.’ This strongly suggests that the American Bitcoin firm opts to stay focused on BTC mining amid the AI frenzy.
Bitcoin miner reward analysis
The move also had a positive impact on the ABTC stock price, which surged by 8.06% and was trading at $1.34 at press time.
Likewise, the firm’s BTC touched 7,000 BTC, worth $543.95 million, pushing American Bitcoin to the 16th position in the top 100 public BTC treasury companies.
This coincided with the Bitcoin miners facing a capitulation phase, as confirmed by CryptoQuant’s chart on daily miner revenue and network hashrate.
In 2026, Bitcoin miner revenue had dropped to $32 million, whereas the hashrate was changing hands at 882.99 EH/s. Thus, both hashrate and miner revenue declined at the same time.
In such cases, the smaller and least efficient operators start shutting down, resulting in hashrate falling alongside revenue.
However, this might often be a short-term stress, further indicating the start of the recovery rally once the fierce competition is flushed out.
Final Summary
- 11,298 new mining rigs were added by American Bitcoin to its Drumheller location in Alberta, Canada.
- The company’s stock price increased by 8% as a result of the addition, and its average efficiency increased to 16.0 J/TH.
