American Bitcoin, a firm linked to the Trump family, has announced the deployment of 11,298 additional bitcoin mining ASICs at its Alberta, Canada site, resulting in a 12% increase in its share price to $1.38. The new miners are now fully operational, bringing the total number of ASICs to approximately 89,242 and contributing an extra 3.05 exahash per second to the company's fleet.
This increased capacity is expected to enhance the company's profitability due to the high efficiency rating of the new rigs, which is crucial in mitigating the impact of rising network difficulty on bitcoin mining. According to the company, this expansion is part of its strategy to strengthen its position in the bitcoin market by rapidly scaling its hashrate and efficiently growing its bitcoin exposure. 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 rapid growth.
The move marks the completion of a fleet expansion announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining despite the pivot of other miners towards artificial intelligence and AI data centers. Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and further raised its treasury to 7,000 by the end of March.