American Bitcoin, a firm 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 company has fully integrated these new miners into its facility in Alberta, Canada, bringing its total fleet of ASICs to approximately 89,242. The additional rigs contribute an extra 3.05 exahash per second to the company's 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 rising network difficulty.
According to the company, expanding its hashrate is key to strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, noted that the swift deployment of these new miners demonstrates the company's commitment to disciplined capital allocation and efficient growth.
The move marks the completion of a fleet expansion announced on March 3, 2026, signaling the company's decision to focus on bitcoin mining. This comes as some other miners are shifting their attention to artificial intelligence and data centers. American Bitcoin has also been expanding its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital. By March 30, the company had further increased its BTC treasury to 7,000.