American Bitcoin, a firm connected to the Trump family, has revealed the deployment of approximately 11,300 new bitcoin mining rigs at its site in Alberta, Canada. This development has led to a 12% increase in the company's share price, reaching $1.38. The newly added miners have brought the total number of ASICs to around 89,242, with the new rigs contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash.
This heightened efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty. According to the company, expanding 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 rapid deployment of these miners demonstrates the company's commitment to disciplined capital allocation and efficient growth. The new mining units mark the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining operations.
Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000.