American Bitcoin, a cryptocurrency mining and treasury firm with ties to the Trump family, has announced the deployment of approximately 11,300 additional bitcoin mining rigs at its facility in Drumheller, Alberta, Canada. This development has led to a 12% increase in the company's share price, reaching $1.38. The newly added miners bring the total number of ASICs at the site to around 89,242, with the new rigs contributing an extra 3.05 exahash per second to the company's operational fleet. The high efficiency rating of 13.5 joules per terahash is expected to reduce electricity costs per coin, enabling American Bitcoin to maintain profitability despite the rising network difficulty.
According to Eric Trump, co-founder and chief strategy officer, the expansion reflects the company's commitment to scaling its hashrate and strengthening its position in the bitcoin market. The move also marks the completion of a fleet expansion announced on March 3, 2026, demonstrating 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.