American Bitcoin, a firm connected to the Trump family, revealed on Wednesday that it has installed approximately 11,300 new bitcoin mining rigs at its site in Drumheller, resulting in a 12% increase in its share price to $1.38. The company has fully deployed these miners, expanding its fleet of application-specific integrated circuits to around 89,242.
The new mining equipment contributes 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 the company's electricity costs per coin, enabling it to maintain profitability despite rising network difficulty. In a statement, the company emphasized that scaling its hashrate is essential to 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 new units mark the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining operations. Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000.