American Bitcoin, a firm connected to the Trump family, has announced the deployment of approximately 11,300 new bitcoin mining rigs at its site in Drumheller, resulting in a 12% increase in its share price to $1.38. The newly added miners, which are now fully operational at the Alberta, Canada facility, bring the company's total ASICs to around 89,242. This expansion adds 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, scaling 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 demonstrates the company's commitment to leading the industry through disciplined capital allocation and efficient growth. The new units mark the completion of a fleet expansion announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining operations.
Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000.