American Bitcoin, a mining and treasury company with ties to the Trump family, has announced the deployment of nearly 11,300 additional bitcoin mining rigs at its facility in Drumheller, resulting in a 12% increase in its share price to $1.38. The newly installed miners bring the total number of ASICs at the site to approximately 89,242, with the new rigs contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash. This high efficiency is crucial in reducing electricity costs and maintaining profitability amidst rising network difficulty. The company views this expansion as a strategic move to strengthen its position in the bitcoin market.
According to Eric Trump, co-founder and chief strategy officer, the swift deployment of these miners reflects the company's commitment to disciplined growth and efficient expansion. The move marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining despite the pivot of other miners towards artificial intelligence and data centers.
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.