Eric Trump’s American Bitcoin rises 12% amid increase in BTC mining capacity
The Block
American Bitcoin, co-founded by Eric Trump, saw its stock rise 12% following a 12% increase in its total Bitcoin mining hashrate.Summary
American Bitcoin, a mining and treasury firm co-founded by Eric Trump, announced a 12% boost in its total hashrate after energizing over 11,298 new miners at its Drumheller site. This expansion brings the company’s fleet to approximately 89,242 miners, operating at 28.1 EH/s. Following the announcement and a rise in Bitcoin's market price, the company's stock (ABTC) also climbed 12%. The firm continues to pursue a strategy of accumulating Bitcoin at costs below spot market prices to grow its holdings, which now exceed 7,000 BTC, valued at over $550 million.
(Source：The Block)