5 Popular Penny Stocks on Robinhood to Buy

2. American Bitcoin Corp. (NASDAQ:ABTC)

Average Daily Trading Volume: 13.62 million shares

Stock Price: $0.95

Stock Upside: 321.45%

Number of Hedge Fund Holding: 7

American Bitcoin Corp. (NASDAQ:ABTC) is one of the popular penny stocks on Robinhood to buy. On March 3, American Bitcoin Corp. (NASDAQ:ABTC) announced the purchase of 11,298 new Bitcoin miners. The company expects the miners, also called ASICs, or Application-Specific Integrated Circuits, to add approximately 3.05 Exahash per second (EH/s) of hashing power at an efficiency of around 13.5 Joules per Terahash (J/TH). This will expand the company’s total owned fleet by 12% to 89,242 miners, around 28.1 EH/s of owned capacity.

The company detailed that it will take delivery of the new machines within this month, March 2026. It will deploy the machines, also within this month, at the company’s Drumheller facility in Alberta, Canada. Once online, the active working fleet, which excludes units not yet operational, will reach 58,999 miners delivering roughly 25.0 EH/s at an improved average efficiency of about 14.1 J/TH, the company said in a press release statement. In comparison, the current full-fleet average is approximately 16.0 J/TH, which means the new units are measurably more power-efficient than the existing base.

Eric Trump, the company’s Co-Founder and Chief Strategy Officer, noted that the expansion comes at a moment when many competing mining firms are redirecting capital away from Bitcoin mining. American Bitcoin will not follow this trend, Trump stated. He said: “As Bitcoin matures, the priority is clear: grow American-owned, professionally operated hashrate. That’s how we protect the network, drive innovation, and lead the future of Bitcoin in America.”

American Bitcoin Corp. (NASDAQ:ABTC) is a cryptocurrency mining company that develops and operates facilities for bitcoin production. Its operations focus on industrial-scale mining infrastructure that leverages low-cost energy sources to generate bitcoin efficiently.