American Bitcoin, a mining and treasury firm linked to the Trump family, has announced the deployment of approximately 11,300 new bitcoin mining rigs at its Drumheller site in Alberta, Canada. This development has led to a 12% increase in the company's share price, reaching $1.38.
The newly added miners have enhanced the firm's fleet of application-specific integrated circuits (ASICs) to around 89,242, with the new rigs contributing an additional 3.05 exahash per second (EH/s) at an efficiency rate of 13.5 joules per terahash (J/TH). This high efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability despite the rising network difficulty in bitcoin mining.
According to the company, increasing hashrate is a key strategy to strengthen its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners reflects the company's commitment to disciplined capital allocation, efficient growth, and institutional-scale expansion.
The new units mark the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's decision to expand its bitcoin mining operations. Recently, American Bitcoin has increased its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, surpassing Mike Novogratz's Galaxy Digital, and further raising its BTC treasury to 7,000 by March 30.