American Bitcoin, a firm associated with the Trump family, has announced the deployment of approximately 11,300 new bitcoin mining rigs at its site in Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38. The newly added miners are now fully operational, bringing the total number of ASICs to around 89,242 and contributing an additional 3.05 exahash per second to the company's mining capacity. The high efficiency of the new rigs, at 13.5 joules per terahash, is expected to reduce electricity costs and maintain profitability despite rising network difficulties.
According to Eric Trump, co-founder and chief strategy officer, the expansion reflects the company's commitment to scaling its hashrate and leading in the bitcoin space. The move also marks the completion of a previously announced fleet expansion, demonstrating the company's dedication to bitcoin mining as other firms shift focus to artificial intelligence and data centers.
Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest holder, and later raised its treasury to 7,000 BTC.