American Bitcoin, a mining and treasury firm with ties to the Trump family, revealed on Wednesday that it has installed nearly 11,300 new bitcoin mining rigs at its Drumheller facility. This development led to a 12% increase in the company's share price, reaching $1.38. The newly deployed miners are fully operational at the Alberta, Canada facility, expanding the company's ASIC fleet to approximately 89,242.
The added rigs contribute an extra 3.05 exahash per second to the company's existing operational capacity, with an efficiency rating of 13.5 joules per terahash. This high efficiency is crucial as it reduces the company's electricity costs per coin, enabling American Bitcoin to maintain profitability despite the rising network difficulty that makes bitcoin mining more challenging.
According to the company, 'scaling hashrate is one of the ways we strengthen our position in Bitcoin.' Eric Trump, co-founder and chief strategy officer, stated, 'The deployment of these miners at Drumheller reflects our leadership approach: swift action, disciplined capital allocation, and efficient growth of our Bitcoin exposure at an institutional scale.' The new units at Drumheller mark the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's commitment to expanding its bitcoin mining operations. Notably, American Bitcoin has increased its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital. By March 30, the company further raised its BTC treasury to 7,000.