American Bitcoin, a firm connected to the Trump family, announced the deployment of nearly 11,300 new bitcoin mining units at its Drumheller site, resulting in a 12% increase in share price to $1.38. The company has fully integrated these miners into its Alberta, Canada facility, expanding its ASIC fleet to approximately 89,242 and adding 3.05 exahash per second to its operational capacity. This enhancement is expected to reduce electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty.
The move is part of American Bitcoin's strategy to strengthen its position in the bitcoin market. 'We are committed to leading the way by rapidly scaling our hashrate, allocating capital efficiently, and growing our bitcoin exposure at an institutional level,' stated Eric Trump, co-founder and chief strategy officer. The new mining units mark 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 later raised its treasury to 7,000 BTC.