American Bitcoin Revives Dormant Mining Site with 11K New Miners
A Bitcoin mining site in Drumheller, Alberta, that had gone dark in March 2024 has been reactivated by American Bitcoin Corp.
The subsidiary of Hut 8, which trades on Nasdaq under the ticker ABTC, announced on April 22 that it had energized around 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 a capacity of up to 42 MW and was previously shut down due to elevated energy costs and grid voltage problems two years ago. American Bitcoin simply walked back into the facility it already controlled, plugged in better machines, and upgraded its infrastructure.
Eric Trump, 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.