American Bitcoin, a firm linked 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 company has fully integrated these miners into its facility in Alberta, Canada, expanding its ASIC fleet to approximately 89,242. This addition contributes an extra 3.05 exahash per second to its 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, enabling it to maintain profitability despite rising network difficulties.
According to the company, scaling hashrate is key to strengthening its position in Bitcoin. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners reflects the company's commitment to disciplined capital allocation and efficient growth. The new units mark the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining.
This move comes as other miners shift focus to artificial intelligence and data centers. Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000.