American Bitcoin Acquires 11,298 ASIC Miners, Expanding Owned Hashrate to 28.1 EH/s

American Bitcoin Corp. (Nasdaq: ABTC) announced on March 3, 2026, the purchase of 11,298 ASIC miners, adding approximately 3.05 exahash per second of mining capacity at an efficiency of 13.5 joules per terahash.

The acquisition will expand the company’s total owned fleet to 89,242 miners representing approximately 28.1 EH/s at an average efficiency of 16.0 J/TH, with delivery and deployment scheduled for March 2026 at the Drumheller, Alberta site. The expansion represents an anticipated 12 percent increase in owned hashrate and reinforces the company’s strategy of accumulating Bitcoin at a cost below spot prices through scaled self-mining operations.

Fleet Expansion Details and Operational Impact

The newly acquired miners will add approximately 3.05 EH/s to American Bitcoin’s owned capacity, representing roughly 0.3 percent of global network hashrate based on current network data. This additional capacity could theoretically produce approximately 42 Bitcoin per month, or about 515 Bitcoin annually, representing roughly $2.9 million in monthly gross revenue and approximately $35 million annually before power costs, fees, and difficulty adjustments.

Upon energization of the additional miners, American Bitcoin’s operational fleet will comprise 58,999 miners deployed at approximately 25.0 EH/s with an average efficiency of 14.1 J/TH. The company defines owned fleet as the total number of miners and aggregate hashrate owned, including units not yet operational, while operational fleet represents units currently energized at operating sites.

Eric Trump, Co-Founder and Chief Strategy Officer at American Bitcoin, stated that as Bitcoin matures, the priority is growing American-owned, professionally operated hashrate to protect the network, drive innovation, and lead the future of Bitcoin in America.

Bitcoin Accumulation Strategy and Cost Advantage

American Bitcoin’s mining operations serve as the foundational layer of its business model, which aims to accumulate Bitcoin at a cost below spot prices. The company reported mining Bitcoin at a 53 percent discount relative to spot prices in the fourth quarter of 2025, demonstrating the structural advantage of its fleet strategy.

President Matt Prusak emphasized that every decision is oriented around maximizing Bitcoin accumulation, stating that discipline is what shareholders should expect from the company. The fleet strategy centers on deploying high-efficiency hardware, optimizing energy costs, and maintaining flexibility to scale operations in response to evolving network and market conditions.

The company ended 2025 with 5,401 BTC on its balance sheet and has since grown holdings to more than 6,000 BTC. For the full year 2025, American Bitcoin posted $185.2 million in revenue and a net loss of $153.2 million, primarily driven by a $227.1 million non-cash mark-to-market loss on its Bitcoin holdings under fair value accounting rules.

Industry Context: Counter-Cyclical Expansion

The expansion comes as many publicly traded Bitcoin miners increasingly pivot capital and infrastructure toward artificial intelligence and high-performance computing applications, with some monetizing Bitcoin treasuries to fund diversification. American Bitcoin’s continued emphasis on scaled self-mining and accumulation represents a counter-cyclical strategy relative to broader industry trends.

The company, a majority-owned subsidiary of Hut 8 Corp., remains focused on its core objective of growing Bitcoin holdings per share through disciplined mining operations and prudent capital allocation. The acquisition follows the company’s first full year as a standalone public entity.

American Bitcoin shares traded at $0.99 on March 3, down 2.6 percent for the day and 41.7 percent year-to-date, according to The Block’s ABTC price page.

FAQ: American Bitcoin Fleet Expansion

How much will American Bitcoin’s hashrate increase with this purchase?

The acquisition of 11,298 ASIC miners adds approximately 3.05 EH/s, representing an anticipated 12 percent increase in the company’s owned hashrate. Following the purchase, American Bitcoin’s total owned fleet will expand to 89,242 miners representing approximately 28.1 EH/s at an average efficiency of 16.0 J/TH.

Where and when will the new miners be deployed?

The machines are expected to be delivered and deployed in March 2026 at American Bitcoin’s Drumheller site in Alberta, Canada. Upon energization, the company’s operational fleet will comprise 58,999 miners deployed at approximately 25.0 EH/s with an average efficiency of 14.1 J/TH.

How does this expansion fit American Bitcoin’s business strategy?

The expansion supports American Bitcoin’s core objective of accumulating Bitcoin at a cost below spot prices through scaled self-mining operations. The company reported mining Bitcoin at a 53 percent discount to spot prices in the fourth quarter of 2025 and aims to grow Bitcoin holdings per share through disciplined operations and capital allocation, contrasting with industry peers pivoting toward AI infrastructure.