American Bitcoin, a firm with ties 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 Alberta, Canada facility, expanding its fleet of application-specific integrated circuits to approximately 89,242. The additional mining 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 American Bitcoin to maintain profitability despite the rising network difficulty of Bitcoin mining. The company emphasized that scaling its 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 reflects the company's commitment to disciplined capital allocation, efficient growth, and institutional-scale Bitcoin exposure. The new mining units mark the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to expanding its bitcoin mining operations. This move comes as other miners are shifting their focus towards artificial intelligence and AI 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 BTC by March 30.