American Bitcoin, a firm connected to the Trump family, announced the deployment of 11,298 new bitcoin mining ASICs at its Drumheller site on Wednesday, resulting in a 12% increase in 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 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 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 at Drumheller demonstrates the company's commitment to leadership through disciplined capital allocation and efficient growth.
The expansion marks the completion of a project initially 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 BTC by March 30.