American Bitcoin Expands Canadian Mining Capacity Amid Recovery Efforts

American Bitcoin (ABTC) has announced the successful energization of 11,298 application-specific integrated circuits (ASICs) at its Drumheller site in Alberta, Canada. This strategic expansion brings the company's total fleet to approximately 89,242 ASICs, significantly increasing its operational footprint. The move is part of a broader effort to stabilize operations after a volatile period. The company, co-founded by the sons of U.S. President Donald Trump, reported a $59.5 million loss for the fourth quarter of 2025. This deficit was primarily driven by a $227.1 million decline in the fair value of its Bitcoin holdings during a market downturn that saw BTC prices drop over 50% to approximately $60,000 in February. With the new hardware online, ABTC's total computing power has reached approximately 28.1 exahashes per second (EH/s). The company reported that the fleet is operating at an average efficiency of 16 joules per terahash. Investors reacted positively to the capacity increase, with ABTC shares climbing approximately 11.7% to $1.38 on Wednesday. This growth comes as the wider mining sector struggles with the aftermath of the April 2024 halving and rising energy costs. The expansion occurs against a backdrop of heavy selling by public miners to maintain liquidity. In the first quarter of 2026, major firms including MARA, Riot, and CleanSpark collectively sold a record 32,000 BTC, surpassing the previous record of 20,000 BTC sold in the second quarter of 2022.