American Bitcoin, a firm connected to the Trump family, revealed on Wednesday that it has added nearly 11,300 new bitcoin mining rigs to its site in Drumheller, 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. The new mining rigs contribute an additional 3.05 exahash per second to the company's operations, with an efficiency rating of 13.5 joules per terahash.
This high efficiency is crucial as it reduces electricity costs per coin, enabling the company to remain profitable despite rising network difficulty. According to the company, scaling hashrate is essential for strengthening its position in Bitcoin.
Eric Trump, co-founder and chief strategy officer, stated that the deployment of these miners reflects the company's commitment to leading through swift action, disciplined capital allocation, and efficient growth of its Bitcoin exposure at an institutional scale. The new units at Drumheller 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 BTC treasury to 7,000.