American Bitcoin, a mining and treasury company with ties to the Trump family, has reported a substantial increase in its share price, rising by approximately 12% to $1.38 following the announcement of a significant expansion of its mining operations. The company revealed that it has deployed an additional 11,298 bitcoin mining ASICs at its facility in Drumheller, Alberta, Canada, bringing its total fleet to around 89,242. The new mining rigs are expected to contribute an extra 3.05 exahash per second to the company's operational capacity, with an efficiency rating of 13.5 joules per terahash.
This high efficiency is crucial in reducing electricity costs and maintaining profitability amidst rising network difficulty. According to the company, the expansion is part of its strategy to strengthen its position in the bitcoin market by scaling its hashrate. Eric Trump, co-founder and chief strategy officer, stated that the deployment of the new miners reflects the company's commitment to leading the industry through swift action, disciplined capital allocation, and efficient growth. The move marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining despite other miners shifting focus to artificial intelligence and data centers.
Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000, further solidifying its position in the market.