American Bitcoin, a mining and treasury company with ties to the Trump family, has reported a significant increase in its share price, rising by approximately 12% to $1.38, following the announcement of the deployment of 11,298 additional bitcoin mining ASICs at its Drumheller site. This expansion brings the total number of ASICs at the facility to around 89,242, resulting in an incremental 3.05 exahash per second (EH/s) at an efficiency of 13.5 joules per terahash (J/TH). The high efficiency of these new mining rigs is crucial as it reduces the company's electricity costs per coin, enabling American Bitcoin to maintain profitability despite the increasing difficulty of the Bitcoin network.
According to the company, scaling hashrate is a key strategy to strengthen its position in Bitcoin. 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 represent 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, becoming the 16th-largest bitcoin holder, and further raised its BTC treasury to 7,000 by the end of March.