American Bitcoin, a mining and treasury firm with ties to the Trump family, revealed on Wednesday the deployment of approximately 11,300 new bitcoin mining rigs at its Drumheller 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 existing fleet.
The high efficiency of these new rigs, at 13.5 joules per terahash, is expected to reduce electricity costs and maintain profitability despite rising network difficulty. According to the company, expanding its hashrate is crucial for strengthening its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners demonstrates the company's commitment to leading the industry through disciplined capital allocation and efficient growth.
The completion of this fleet expansion, initially announced on March 3, 2026, indicates the company's decision to focus on bitcoin mining operations. Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest holder, and later raised its treasury to 7,000, further solidifying its position in the market.