ABTC Powers Up 11,298 Bitcoin Mining Rigs Amid Bear Market
American Bitcoin Corporation (ABTC) has energized 11,298 new Bitcoin mining rigs at its Drumheller facility in Alberta, Canada, boosting its total fleet capacity to 28.1 exahashes per second (EH/s). This upgrade positions ABTC among the leading Bitcoin miners globally, even as the industry faces significant economic headwinds.
The company, co-founded by former U.S. President Donald Trump’s sons, confirmed the deployment of application-specific integrated circuits (ASICs) in its latest announcement. ABTC now operates a total of 89,242 ASICs, with an average efficiency of 16 joules per terahash, a critical metric for mining profitability.
Following the announcement, ABTC shares surged 11.7% on Wednesday, reaching $1.38 per share, according to Yahoo Finance. This marks a notable rebound for the company, which recently posted a $59.5 million loss in Q4 2025. The loss was largely attributed to a $227.1 million drop in the fair value of its Bitcoin holdings due to the ongoing bear market.
Survival Amid Mining Industry Pressures
The mining sector has been under immense strain since Bitcoin’s April 2024 halving, which slashed block rewards by 50%. Declining Bitcoin prices and rising energy costs have further eroded profitability. Bitcoin, which traded above $120,000 in early 2024, has since fallen by over 50%, hitting lows around $60,000 as of February 2026.
Despite the challenges, ABTC claims it can mine Bitcoin at a 53% discount compared to spot market prices, thanks to its operational efficiencies. This cost advantage could prove pivotal as public mining companies increasingly offload Bitcoin to sustain operations. In Q1 2026, public miners sold a record 32,000 BTC, surpassing the total sales for all of 2025, according to TheEnergyMag.
Can Efficiency Offset Market Risks?
For ABTC, the energization of additional ASICs represents a bet on long-term recovery in Bitcoin prices, even as the current market remains bearish. The company's ability to maintain operational efficiency and scale its output could provide a buffer against future downturns. However, with energy prices rising globally and reduced block rewards, the path to profitability remains challenging for miners across the board.
As the industry navigates these hurdles, all eyes will be on ABTC's Q2 performance and whether its expanded mining capacity can translate into improved financials. For investors, the company's ability to balance growth with cost efficiency could be a key indicator of its resilience in a volatile market.