American Bitcoin, a firm connected to the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site in Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38.
The newly added miners bring the total number of ASICs to approximately 89,242, with an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash. This high efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability despite the rising network difficulty.
According to the company, scaling hashrate is a key strategy to strengthen its position in Bitcoin. 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 efficient growth.
The expansion is part of a larger plan announced on March 3, 2026, indicating the company's dedication to bitcoin mining. 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 March 30.