The Trump family-associated mining and treasury company, American Bitcoin, revealed on Wednesday the deployment of 11,298 additional bitcoin mining ASICs at its Drumheller site, resulting in a 12% spike in its share price to $1.38. This development brings the total number of ASICs at the facility to approximately 89,242, with the new rigs contributing an extra 3.05 exahash per second at an efficiency of 13.5 joules per terahash. This increased efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability amidst rising network difficulty.
The firm emphasized that scaling hashrate is essential to strengthening its position in Bitcoin. According to Eric Trump, co-founder and chief strategy officer, the swift deployment of these miners at Drumheller demonstrates the company's commitment to leading through disciplined capital allocation and efficient growth. The new units represent the completion of a fleet expansion announced on March 3, 2026, underscoring the company's dedication to bitcoin mining operations.
Notably, American Bitcoin has been expanding its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC and later increasing its treasury to 7,000 BTC.