American Bitcoin, a firm associated with the Trump family, announced the deployment of 11,298 additional bitcoin mining ASICs at its Drumheller site on Wednesday, resulting in a 12% increase in its share price to $1.38. The newly installed miners are now fully operational at the company's Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242. This expansion adds 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 in reducing electricity costs per coin, enabling the company to maintain profitability despite the rising network difficulty.
According to the company, 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 the industry through disciplined capital allocation and efficient growth. The new units at Drumheller mark the completion of a fleet expansion announced on March 3, 2026, indicating 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 further raised its treasury to 7,000 by March 30.