American Bitcoin Expands Mining Operations in Canada

American Bitcoin (ABTC) has completed the energization of 11,298 new Application-Specific Integrated Circuits (ASICs) at its Drumheller site in Alberta, Canada. This expansion brings the total number of ASICs owned by ABTC to approximately 89,242, with a combined mining power of around 28.1 exahashes per second.

The company's shares surged about 11.7% on Wednesday following the announcement, reaching an approximate value of $1.38 per share. This increase in stock value comes after a difficult business period for ABTC, which posted a $59.5 million loss in Q4 2025 due to a decline in bitcoin prices and a corresponding decrease in the fair value of its holdings.