American Bitcoin, a mining and treasury company with ties to the Trump family, revealed on Wednesday the deployment of approximately 11,300 new bitcoin mining rigs at its Drumheller site in Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38. The newly added miners bring the total number of ASICs at the facility to around 89,242, with the new rigs contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash.
This high efficiency is crucial for reducing electricity costs and maintaining profitability amidst rising network difficulty. According to the company, expanding its hashrate is a key strategy for strengthening its position in the Bitcoin market. The move reflects the company's commitment to swift growth, disciplined capital allocation, and efficient expansion of its Bitcoin operations.
Notably, this development marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining. Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and further raised its treasury to 7,000 by March 30.