American Bitcoin, a mining and treasury firm with ties to the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site, resulting in a 12% increase in its share price to $1.38. The company has fully integrated these miners into its Alberta, Canada facility, expanding its ASIC fleet to approximately 89,242 and increasing its operational capacity by 3.05 exahash per second at an efficiency rate of 13.5 joules per terahash. This enhanced efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability despite rising network difficulties. According to the company, scaling hashrate is a key strategy for strengthening its position in Bitcoin.
The swift deployment of these miners reflects the company's commitment to disciplined capital allocation, rapid growth, and efficient expansion of its Bitcoin operations at an institutional scale, as stated by Eric Trump, co-founder and chief strategy officer. This development marks the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to intensify its focus on Bitcoin mining. Notably, American Bitcoin has been expanding its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest Bitcoin holder, surpassing Mike Novogratz's Galaxy Digital, and further increasing its treasury to 7,000 by March 30.