American Bitcoin, a firm with ties to the Trump family, has revealed the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site in Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38.
The newly added miners bring the total number of ASICs to approximately 89,242, with the additional rigs contributing 3.05 exahash per second at an efficiency of 13.5 joules per terahash. This enhanced efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty. The firm emphasized that scaling hashrate is key 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 through disciplined capital allocation and efficient growth.
The addition of these new units marks the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining. Notably, American Bitcoin has been expanding its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC and later increasing its treasury to 7,000 BTC.