American Bitcoin, a firm associated with the Trump family, revealed on Wednesday that it has augmented its mining operations by deploying approximately 11,300 new bitcoin mining rigs at its site in Drumheller. This development led to a 12% increase in the company's share price, which rose to $1.38. The newly added miners are now fully operational at the Alberta, Canada facility, bringing the total number of ASICs to around 89,242. These new rigs contribute an additional 3.05 exahash per second to the company's existing operational capacity, achieving an efficiency of 13.5 joules per terahash.
This high efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite the increasing difficulty of bitcoin mining. The firm emphasized that expanding its hashrate is a key strategy to strengthen its position in the bitcoin market.
Eric Trump, co-founder and chief strategy officer at American Bitcoin, stated that the activation of these new miners reflects the company's commitment to rapid growth, disciplined capital allocation, and efficient expansion of its bitcoin operations at an institutional scale. The newly operational units mark the completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining. Notably, American Bitcoin has increased its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, surpassing Mike Novogratz's Galaxy Digital, and further raised its treasury to 7,000 BTC by March 30.