American Bitcoin (ABTC), a publicly traded mining company co-founded by U.S. President Donald Trump’s sons, has energized 11,298 new mining machines at its Canadian site. The company’s fleet now operates at 28.1 exahashes per second, and its share price rose nearly 12% following the announcement, despite reporting a $59.5 million loss for the fourth quarter of 2025.
The mining company American Bitcoin (ABTC) has completed the energization of 11,298 application-specific integrated circuits (ASICs) at its Drumheller site in Alberta, Canada. Following this acquisition, the company now owns approximately 89,242 ASICs, according to its announcement.
ABTC’s mining fleet now generates about 28.1 exahashes per second of computing power. The company stated it operates at an average efficiency of 16 joules per terahash.
Shares of ABTC surged by about 11.7% on Wednesday, rising to about $1.38 per share. This data comes from Yahoo Finance.
The announcement followed a tough business quarter where the company posted a loss of $59.5 million in Q4 2025. The mining industry is grappling with multiple economic challenges that are chipping away at revenue.
Mining companies face reduced block rewards since the April 2024 halving, rising energy costs, and declining crypto prices. The price of BTC declined by over 50%, reaching a low of about $60,000 in February when ABTC filed its Q4 results.
ABTC attributed its Q4 losses to a $227.1 million decline in the fair value of its BTC holdings. The company said it was able to “mine BTC at a 53% discount” to prices on the spot market.
Public BTC mining companies sold more BTC in the first three months of 2026 than in all of 2025. Companies including MARA, CleanSpark, Riot, Cango, Core Scientific and Bitdeer collectively sold about 32,000 BTC in Q1, according to TheEnergyMag.
Sales in that period topped the previous record of 20,000 BTC sold by public mining companies during Q2 2022. This trend highlights the ongoing financial pressures within the sector.
