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 site, resulting in a 12% increase in its share price to $1.38. The company has fully deployed these miners at its Alberta, Canada facility, expanding its fleet of ASICs to approximately 89,242 and adding 3.05 exahash per second to its operational capacity.
This move is expected to enhance the company's profitability by reducing electricity costs per coin, thanks to the high efficiency rating of 13.5 joules per terahash. According to Eric Trump, co-founder and chief strategy officer, the swift deployment of these miners demonstrates the company's commitment to scaling its hashrate and strengthening its position in the Bitcoin market. The addition of these new units marks the completion of a fleet expansion announced on March 3, 2026, underscoring the company's decision to focus on bitcoin mining operations.
This development comes on the heels of American Bitcoin increasing its BTC holdings to 6,899, making it the 16th-largest bitcoin holder, and subsequently raising its BTC treasury to 7,000.