A single company, backed by two members of the Trump family, now accounts for roughly 2-3% of all Bitcoin mined on the planet. American Bitcoin Corp has reached a hashrate of 28.1 EH/s as of April 2026, making it one of the more notable pure-play mining operations in an industry that’s rapidly consolidating.

To put that in context: the entire global Bitcoin network hums along at somewhere between 950 and 1,000 EH/s. The company reported mining 817 BTC in Q1 2026 alone, a record quarter. The company recently deployed 11,298 new ASIC machines at its facility in Drumheller, Alberta, pushing its operational capacity to its current level.

From subsidiary to Nasdaq in record time

American Bitcoin Corp didn’t exist before 2025. It was born as a subsidiary of Hut 8, one of North America’s larger publicly traded mining firms, before merging with Gryphon Digital Mining. The combined entity eventually listed on the Nasdaq under the ticker ABTC.

Eric Trump and Donald Trump Jr. are both backers of the venture. Eric Trump has publicly stated that the firm accounts for about 2% of daily Bitcoin output, a claim that aligns with the hashrate data.

ABTC went from single-digit exahashes per second at formation to over 28 EH/s in roughly a year. ABTC’s strategy leans heavily on low-cost energy partnerships to maintain profitability in an environment where network difficulty keeps climbing.

The Bitcoin treasury play

By late 2025, the company held approximately 4,004 BTC, valued at around $415M at the time. ABTC mines its own coins and supplements with strategic purchases — producing Bitcoin directly through mining operations, then buying more on top.

With 817 BTC mined in a single quarter and a growing treasury, ABTC is building a balance sheet that looks increasingly like a leveraged bet on Bitcoin’s long-term price trajectory.

What this means for investors

US-based Bitcoin miners collectively control approximately 35-38% of the global market hashrate as of mid-2026. The 2024 halving cut block rewards from 6.25 BTC to 3.125 BTC, instantly halving the revenue available to miners without a corresponding drop in operating costs. ABTC’s formation through the Hut 8 subsidiary and Gryphon merger is a textbook example of this consolidation wave.

ABTC’s Drumheller facility sits in Alberta, a province with relatively cheap natural gas and a regulatory environment that’s been welcoming to crypto mining.

At 28.1 EH/s, ABTC is a meaningful player but far from dominant. Marathon Digital, CleanSpark, and Riot Platforms all operate at comparable or larger scales.