It depends. If the stove has not yet reached the set point (assuming it has some sort of room temp sensing), then BTU's go up with more pellets (assuming complete burn in the pot).
If the stove has hit the set point, then a lot of stoves will throttle back the actual feed rate to match what it needs to keep the temp. Then if it needs more heat, will up the feed rate. In which case, the BTU's go up and down depending on what the stove is calling for. In this case, the feed rate is only what the stove is allowed to use if needed - but it has the option NOT to use that many pellets.
Or, depending on the stove and settings, it may throw excess heat out the exhaust. In which case, although technically producing more BTU, you do not get the benefit of those extra BTUs.
And of course, there are the boundaries of the stove itself as well as the pellets being used. I would think pot size combined with air flow would be a limiting factor on how many BTU's are actually producible by a stove (thus why a Harman P43 is rated at less BTUs than a P63). And, of course, the type of pellet being burned will also help determine BTUs possible.