American Bitcoin, a firm associated with the Trump family, has reported a notable increase in its share price after unveiling the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller facility. This expansion has led to a 12% rise in the company's share price to $1.38.
The newly added miners have been fully integrated into the facility in Alberta, Canada, bringing the total number of ASICs to approximately 89,242. The new mining rigs contribute an additional 3.05 exahash per second to the company's operational fleet, with an efficiency rating of 13.5 joules per terahash.
This high efficiency is crucial in reducing electricity costs and maintaining profitability amidst rising network difficulty. 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 reflects the company's commitment to disciplined capital allocation and efficient growth. The new units at Drumheller mark the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining operations.
Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and subsequently raised its BTC treasury to 7,000 by March 30.