American Bitcoin Expands Hashrate, Deepens BTC Bet

American Bitcoin, backed by the Trump family, announced the acquisition of 11,298 new ASIC miners, which will add approximately 3.05 exahashes per second (EH/s) to its operations in Drumheller, Alberta. This purchase increases the company's total owned capacity to 28.1 EH/s across 89,242 miners. While this expansion increases its share of the global Bitcoin hashrate, profitability still depends on Bitcoin's price, network difficulty, and energy costs. Beyond mining, American Bitcoin employs a Bitcoin-centric strategy, holding over 6,000 BTC on its balance sheet, mirroring a trend among miners who retain mined coins for long-term exposure. This strategy amplified risk, as evidenced by a Q4 net loss of $59 million, largely due to a $227 million non-cash mark-to-market adjustment following Bitcoin's price decline during that period.

(Source：Cointelegraph)