American Bitcoin, a company linked to the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs at its site in Drumheller, resulting in a 12% increase in its share price to $1.38. The newly installed miners are fully operational at the 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 existing operational capacity, with an efficiency rating of 13.5 joules per terahash. This high efficiency is crucial in reducing electricity costs, enabling the company to maintain profitability despite rising network difficulty.
According to the company, scaling hashrate is a key strategy for 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 decision to focus on 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.