American Bitcoin, a mining and treasury firm with ties to the Trump family, revealed on Wednesday that it has deployed nearly 11,300 new bitcoin mining rigs at its Drumheller site, resulting in a 12% increase in its share price to $1.38. The company has fully integrated these miners into its Alberta, Canada facility, expanding its fleet of application-specific integrated circuits to approximately 89,242. The new mining rigs contribute an additional 3.05 exahash per second to the company's operational fleet, 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 the increasing network difficulty of Bitcoin mining.
In a statement, the company emphasized that scaling its hashrate is essential to strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, noted that the rapid deployment of these miners at Drumheller reflects the company's commitment to disciplined capital allocation and efficient growth.
This expansion marks the operational completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining operations. Notably, American Bitcoin has raised its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, surpassing Mike Novogratz's Galaxy Digital, and further increasing its BTC treasury to 7,000 by March 30.