American Bitcoin, a firm with ties to the Trump family, has reported a substantial increase in its share price, rising by approximately 12% to $1.38, following the announcement of adding almost 11,300 new bitcoin mining rigs to its operations in Alberta, Canada. This expansion brings the total number of ASICs at the facility to around 89,242, with the new miners contributing an additional 3.05 exahash per second at an efficiency rate of 13.5 joules per terahash. According to the company, this high efficiency is crucial in maintaining profitability amidst rising network difficulty. In a statement, the firm emphasized that scaling its hashrate is key to strengthening its position in the Bitcoin market.
Eric Trump, co-founder and chief strategy officer, noted that the swift deployment of these miners reflects the company's strategy of disciplined capital allocation and efficient growth. The move marks the completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's commitment to bitcoin mining. Notably, American Bitcoin has been expanding its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, and later increasing its treasury to 7,000 BTC.