American Bitcoin, a firm connected to the Trump family, announced the deployment of nearly 11,300 new bitcoin mining rigs at its Alberta, Canada site on Wednesday, resulting in a 12% increase in its share price to $1.38. The company has fully integrated these miners into its facility, expanding its ASIC fleet to approximately 89,242 and boosting its operational capacity by 3.05 exahash per second. This enhancement is expected to reduce electricity costs per coin due to its high efficiency rating of 13.5 joules per terahash, enabling the company to maintain profitability amidst rising network difficulties. According to Eric Trump, co-founder and chief strategy officer, this move demonstrates the company's commitment to scaling its hashrate and leading in Bitcoin through swift action, disciplined capital allocation, and efficient growth.
The deployment of these new units marks the completion of a fleet expansion announced on March 3, 2026, underscoring the company's dedication to bitcoin mining despite industry trends towards artificial intelligence and AI data centers. 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.