American Bitcoin, a mining and treasury company with ties to the Trump family, has announced the deployment of approximately 11,300 new bitcoin mining rigs at its site in Drumheller, Alberta, Canada. This move has resulted in a 12% increase in the company's share price, reaching $1.38.
The newly added miners bring the total number of ASICs to around 89,242, with an additional 3.05 exahash per second (EH/s) of mining power at an efficiency of 13.5 joules per terahash (J/TH). This high efficiency is crucial in reducing electricity costs and maintaining profitability amidst 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 swift deployment of these miners demonstrates the company's commitment to leading the industry through disciplined capital allocation and efficient growth. The addition of these new units marks the completion of a fleet expansion announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining despite other miners shifting towards artificial intelligence and AI data centers. 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 by March 30.