American Bitcoin, a firm connected to the Trump family, revealed on Wednesday that it has expanded its bitcoin mining operations by deploying almost 11,300 new mining rigs at its site in Drumheller, Alberta, Canada. This move led to a substantial 12% increase in the company's share price, which rose to $1.38.
The newly added miners are now fully operational, bringing the total number of application-specific integrated circuits (ASICs) to approximately 89,242. The additional rigs contribute an extra 3.05 exahash per second (EH/s) to the company's current mining capacity, with an impressive efficiency rating of 13.5 joules per terahash (J/TH). This high efficiency is crucial as it helps reduce electricity costs per coin, enabling American Bitcoin to maintain profitability despite the increasing difficulty of the Bitcoin network. The company emphasized that expanding its hashrate is a key strategy to strengthen its position in the Bitcoin market.
In a statement, Eric Trump, co-founder and chief strategy officer, expressed the company's commitment to leading the industry through swift action, disciplined capital allocation, and efficient growth. The deployment of these new miners marks the completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining.
This move comes as some other mining companies are shifting their focus towards artificial intelligence and AI data centers. Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000 BTC.