American Bitcoin, a mining and treasury firm linked to the Trump family, revealed on Wednesday that it has augmented its mining operations with nearly 11,300 new bitcoin mining rigs at its site in Drumheller. This development prompted a 12% increase in the company's share price, reaching $1.38. The newly deployed miners, which are now fully operational at the Alberta, Canada facility, bring the total number of ASICs to approximately 89,242.
Furthermore, the new mining equipment contributes an additional 3.05 exahash per second to the company's existing operations, boasting an efficiency of 13.5 joules per terahash. This high efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability amidst rising network difficulty. According to the company, 'scaling hashrate is a key strategy to strengthen our position in Bitcoin.' The firm's co-founder and chief strategy officer, Eric Trump, stated, 'The deployment of these miners at Drumheller exemplifies our approach to leadership: swift action, disciplined capital allocation, and efficient growth of our Bitcoin exposure at an institutional scale.' The introduction of the new mining units marks the completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's commitment to expanding its bitcoin mining operations. Notably, American Bitcoin has been bolstering its BTC holdings, reaching 6,899 by March 18 and surpassing Mike Novogratz's Galaxy Digital to become the 16th-largest bitcoin holder.
By March 30, the company's BTC treasury had grown to 7,000.