American Bitcoin, a firm with ties to the Trump family, announced the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site on Wednesday, resulting in a 12% increase in its share price to $1.38. The newly added miners are now fully operational at the company's facility in Alberta, Canada, bringing the total number of ASICs to approximately 89,242.
The new rigs contribute an additional 3.05 exahash per second to the company's current operational capacity, with an efficiency rating of 13.5 joules per terahash. This high efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty.
According to the company, expanding its hashrate is a key strategy for strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners reflects the company's commitment to disciplined capital allocation and efficient growth. The new units at Drumheller mark the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining operations.
This move comes as other miners are shifting their focus to artificial intelligence and AI data centers. American Bitcoin has also been expanding its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC on March 18, and further increasing its treasury to 7,000 BTC by March 30.