American Bitcoin, a firm associated with the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site, resulting in a 12% increase in its share price to $1.38. The newly added miners are fully operational at the company's Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242. This expansion contributes an additional 3.05 exahash per second to the company's current operational capacity, 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 it to remain profitable despite the increasing network difficulty of Bitcoin mining.
The company emphasized that scaling its hashrate is essential to strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these new miners reflects the company's commitment to leadership through disciplined capital allocation and efficient growth of its Bitcoin exposure.
The new units at Drumheller mark 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 BTC treasury to 7,000.