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 Drumheller, resulting in a 12% increase in its share price to $1.38. The company has fully integrated these new miners into its facility in Alberta, Canada, expanding its fleet of ASICs to around 89,242 and enhancing its operational capacity by 3.05 exahash per second.
This move is significant due to the high efficiency rating of the new rigs, which helps reduce electricity costs and maintain profitability amidst rising network difficulties. The company views this expansion as a strategic move to strengthen its position in the Bitcoin market. In a statement, Eric Trump, co-founder and chief strategy officer, emphasized the importance of scaling hashrate and efficiently growing Bitcoin exposure. The addition of these new units marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's commitment to bitcoin mining.
Recently, American Bitcoin has increased its BTC holdings, becoming the 16th-largest bitcoin holder and further solidifying its presence in the market.