American Bitcoin, a firm connected to the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site in Alberta, Canada. This move has resulted in a 12% increase in the company's share price, reaching $1.38.
The introduction of these new miners brings the total number of ASICs at the facility to approximately 89,242, contributing an additional 3.05 exahash per second to the company's operational capacity. The high efficiency of the new rigs, at 13.5 joules per terahash, is expected to reduce electricity costs and maintain profitability despite rising network difficulty.
According to the company, expanding its hashrate is a key strategy for strengthening its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the deployment of these new miners demonstrates the company's commitment to leading the industry through disciplined capital allocation and efficient growth. This expansion marks the completion of a fleet upgrade announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining despite industry trends towards artificial intelligence and data centers. Recently, American Bitcoin has increased its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital, and further raising its treasury to 7,000 by March 30.