American Bitcoin Expands Hashrate, Deepens BTC Bet

American Bitcoin has added 11,298 ASIC miners, a purchase expected to bring roughly 3.05 exahashes per second to its operations once the machines are deployed at its Drumheller, Alberta site this month. The acquisition will lift the company’s fleet to 89,242 miners, representing about 28.1 EH/s of owned capacity.

The new machines are rated at about 13.5 joules per terahash, a measure of energy efficiency that can influence operating margins in an industry where electricity is a primary expense. The expansion increases American Bitcoin’s share of the global Bitcoin network hashrate and modestly improves its probability of earning block rewards, but mining revenue still depends on Bitcoin’s market price, network difficulty and energy costs.

Network difficulty stands at 144.40 T, unchanged since Feb. 19. The company, which went public last year through a reverse merger with Gryphon Digital Mining, has also amassed more than 6,000 BTC on its balance sheet as part of a Bitcoin-heavy treasury strategy.

Canada, Drumheller, Alberta

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