American Bitcoin expands its mining operations by acquiring 11,298 ASIC miners, boosting its capacity significantly.
American Bitcoin, a subsidiary of Hut 8, is set to boost its operations in Canada by acquiring 11,298 ASIC miners for its facility in Drumheller. The new equipment, expected to be operational by March, will enhance the company's computing capacity by approximately 3.05 EH/s, bringing its total hashrate to around 28.1 EH/s across 89,242 miners.
This expansion comes as American Bitcoin resumes mining operations after halting activities in March 2024 due to soaring electricity costs and grid voltage issues. During the downtime, the company relocated efficient miners and kept the data center as a backup, anticipating better market conditions.
Strategic Focus and Market Position
The newly added miners will operate at an energy efficiency of 13.5 J/TH. American Bitcoin aims to mine Bitcoin below market value and hold it for the long term, with reported mining costs in Q4 2025 being 53% lower than the asset's spot price. President Matt Prusak highlighted that all company strategies focus on maximizing cryptocurrency accumulation.
Co-founder Eric Trump underscored the necessity of expanding operations within the U.S. to bolster the network's security and maintain American leadership in the mining sector. While the company has not disclosed the equipment's manufacturer or the cost of the deal, speculation suggests the miners may be the efficient Bitmain S21 XP model.
Currently, American Bitcoin ranks eighth among global public mining companies and maintains about 2.06% of the total global network computing power, with an operational hashrate of 21.9 EH/s.
Changes in MARA Holdings' Financial Strategy
In related news, MARA Holdings, the largest public Bitcoin miner by asset holdings, is modifying its treasury strategy for 2026 to incorporate the option of selling some of its Bitcoin reserves. This marks a shift from its previous stance of solely holding mined cryptocurrency for long-term investment.
“In the second half of 2025, we changed our strategy. […] Accordingly, we can hold Bitcoins for long-term investments while also buying or selling them periodically based on market conditions and our capital allocation priorities,” stated MARA representatives.
As of late 2025, about 28% of MARA's total 53,822 BTC were engaged in various investment processes, including loans and collateral for credit lines amounting to $350 million, generating $32.1 million in interest income. However, the company also reported a significant loss of $1.7 billion in February and is shifting its focus towards artificial intelligence.
