American Bitcoin, a firm associated with the Trump family, revealed on Wednesday that it has deployed almost 11,300 new bitcoin mining rigs at its 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 at the facility to approximately 89,242, with the new rigs contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash.
This high efficiency is crucial as it reduces the company's electricity costs, enabling it to maintain profitability despite the rising network difficulty. According to the company, scaling hashrate is a key strategy to strengthen its position in Bitcoin.
In a statement, Eric Trump, co-founder and chief strategy officer, emphasized the company's commitment to leading the industry through swift action, disciplined capital allocation, and efficient growth. The deployment of the new miners marks 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 later raised its treasury to 7,000.