A Bitcoin mining site in Drumheller, Alberta, that went dark in March 2024 is humming again. American Bitcoin Corp., the Hut 8 subsidiary that trades on Nasdaq under the ticker ABTC, announced on April 22 that it energized roughly 11,298 new ASIC miners at the facility, adding approximately 3.05 exahashes per second of computing power at an efficiency of around 13.5 joules per terahash.
The Drumheller site has capacity of up to 42 MW. Two years ago, elevated energy costs and grid voltage problems made running it untenable. Now it’s back, stocked with newer, more efficient hardware, and folded into a fleet that gives American Bitcoin some serious scale.
From mothballed to meaningful
When Hut 8 shut down Drumheller in early 2024, the company kept the lease. Rather than hunting for greenfield sites or negotiating new power contracts, American Bitcoin simply walked back into a facility it already controlled and plugged in better machines.
The new rigs running at 13.5 J/TH represent a meaningful upgrade over the fleet’s overall average. American Bitcoin’s total operational machines now run at approximately 14.1 J/TH across roughly 58,999 active miners producing about 25.0 EH/s. The full owned fleet, including units not yet online, sits at around 89,242 miners contributing a cumulative 28.1 EH/s.
The Drumheller reactivation fulfills a plan American Bitcoin first laid out on March 3, 2026.
The economics of mining below spot
Eric Trump, who serves as Co-Founder and Chief Strategy Officer at American Bitcoin, framed the expansion around a concept the company keeps returning to: acquiring Bitcoin at below spot prices through disciplined, cost-efficient mining. At 13.5 J/TH, the new Drumheller rigs consume less energy per unit of hashing power than the fleet average of 14.1 J/TH.
Where this fits in the competitive landscape
American Bitcoin’s parent company, Hut 8, trades on both Nasdaq and the Toronto Stock Exchange. The Drumheller expansion illustrates how that structure plays out: hold the infrastructure through a downturn, then re-equip it with next-generation hardware when the cycle turns.
At roughly 25.0 EH/s of operational hash rate, American Bitcoin is now a significant contributor to global Bitcoin network security. Adding 3.05 EH/s in a single site reactivation helps the company maintain its share of the network. The gap between 25.0 EH/s operational and 28.1 EH/s total fleet capacity suggests more deployment capacity remains, as the company still has tens of thousands of machines it can bring online as it secures additional power or optimizes existing sites.