American Bitcoin (ABTC) shares surged 5.10% in pre-market trading on Thursday, building on the momentum from its recent stock market debut. The company, co-founded by Eric Trump and Donald Trump Jr., sons of U.S. President Donald Trump, has announced a significant expansion of its Bitcoin mining operations.
ABTC revealed it has more than doubled its computing power from approximately 10 EH/s to 24 EH/s through the purchase and activation of roughly 16,300 ASIC servers. This expansion, deployed at Hut 8's 205 MW Vega data center, strengthens American Bitcoin's position in the competitive Bitcoin mining landscape. Asher Genoot, Executive Chairman of American Bitcoin, emphasized the company's strategy to enhance Bitcoin value per share, noting that their cost per Bitcoin mined in Q2 2025 was about half of their Bitcoin revenue per coin.
The pre-market rally follows American Bitcoin's volatile first day of trading on Wednesday, where shares initially doubled before closing up 16.5%. The Trump family's involvement in the company has drawn significant attention, with Eric Trump and Donald Trump Jr. reportedly owning a 20% stake valued at over $1.5 billion. As the cryptocurrency industry continues to evolve under the current administration's crypto-friendly policies, American Bitcoin's performance remains a focal point for investors watching the intersection of politics and digital assets.
