American Bitcoin, a mining and treasury firm with ties to the Trump family, revealed on Wednesday that it has added almost 11,300 new bitcoin mining rigs to its site in Drumheller. This development led to a 12% increase in the company's share price, reaching $1.38. The newly deployed miners at the Alberta, Canada facility have expanded the company's fleet of ASICs to approximately 89,242, with the new rigs contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash. This high efficiency is crucial as it reduces the company's electricity costs per coin, enabling American Bitcoin to maintain profitability despite rising network difficulty.
The company emphasized that increasing its hashrate is a key strategy 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 disciplined approach to capital allocation and its commitment to growing its Bitcoin exposure efficiently.
The new units at Drumheller mark the completion of a fleet expansion announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining operations. Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000 BTC by March 30.