American Bitcoin, a mining and treasury firm with ties to the Trump family, announced the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site on Wednesday, resulting in a 12% increase in its share price to $1.38. The newly installed miners are fully operational at the Alberta, Canada facility, expanding the company's fleet of ASICs to approximately 89,242. This addition contributes an extra 3.05 exahash per second to the company's current operational capacity, 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 American Bitcoin to maintain profitability despite rising network difficulty. According to the company, scaling hashrate is key to strengthening its position in the Bitcoin market.
The swift deployment of these new miners reflects the company's strategy of rapid expansion, disciplined capital allocation, and efficient growth of its Bitcoin exposure at an institutional scale, as stated by Eric Trump, co-founder and chief strategy officer. The new units at Drumheller mark the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's commitment to bitcoin mining operations.
Notably, 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.