TechFlow News, May 8: According to TheEnergyMag, U.S.-based Bitcoin company American Bitcoin Corp. (NASDAQ: ABTC) disclosed in its latest quarterly report that in February it purchased approximately 11,298 Bitmain S21 XP ASIC miners (with a combined hash rate of ~3.05 EH/s) for $49.4 million. Of the total payment, 80% was settled by pledging 314 BTC. Based on this, the pledged BTC’s contractual valuation is approximately $125,900 per coin—roughly 44% above the prevailing BTC market price of under $70,000 at the time.
Per the agreement, Bitmain may not forcibly liquidate the pledged BTC during the ~24-month redemption period. If the BTC price exceeds the contractual valuation upon maturity, ABTC may repay in cash and reclaim the BTC, thereby locking in appreciation gains; if the BTC price falls below the contractual valuation, ABTC may elect to forfeit redemption and leave the BTC with Bitmain. This structure effectively grants ABTC a long-dated call option on Bitcoin.
As of March 31, 2026, ABTC has pledged a cumulative total of 3,090 BTC to Bitmain, with a fair value of approximately $210.8 million, corresponding to mining equipment purchase liabilities of roughly $364.3 million. These miners have already been deployed at Hut 8’s (NASDAQ: HUT) site in Drumheller, Alberta, Canada—the parent company of ABTC.
