American Bitcoin, a mining and treasury company with ties to the Trump family, revealed on Wednesday that it has deployed approximately 11,300 new bitcoin mining units at its site in Drumheller, 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.
These new units contribute an additional 3.05 exahash per second to the company's existing fleet, with an efficiency rating 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 the increasing difficulty of mining bitcoin. The company emphasized that expanding its hashrate is a key strategy to strengthen its position in the bitcoin market.
According to Eric Trump, co-founder and chief strategy officer, the swift deployment of these miners demonstrates the company's commitment to leading through disciplined capital allocation and efficient growth. This move marks the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining operations.
Recently, American Bitcoin has been expanding its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital. By March 30, the company's BTC treasury had grown to 7,000.