American Bitcoin, a firm connected to 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 increasing its operational capacity by 3.05 exahash per second.
This enhancement is expected to reduce electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty. The move reflects the company's strategy to strengthen its position in the bitcoin market by rapidly scaling its hashrate, disciplined capital allocation, and efficient growth of its bitcoin exposure.
The addition of these new mining units marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's commitment to bitcoin mining operations. Recently, American Bitcoin has increased its BTC holdings, becoming the 16th-largest bitcoin holder with a treasury of 7,000 BTC.