American Bitcoin, a mining and treasury company with ties to the Trump family, revealed on Wednesday the deployment of approximately 11,300 additional bitcoin mining units at its Alberta, Canada site. This development led to a 12% increase in the company's share price, reaching $1.38. The newly installed miners are fully operational at the facility, bringing the total number of ASICs to around 89,242.
The added mining rigs contribute an extra 3.05 exahash per second, with an efficiency rating of 13.5 joules per terahash, to the company's existing operational capacity. This high efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty. In a statement, the company emphasized that increasing hashrate is a key strategy to strengthen its position in the Bitcoin market.
Eric Trump, co-founder and chief strategy officer, noted that the swift deployment of these miners at Drumheller demonstrates the company's commitment to leading through disciplined capital allocation and efficient growth. The new deployment marks the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining despite other miners shifting towards artificial intelligence and data centers.
American Bitcoin has also been expanding its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital. By March 30, the company further increased its BTC treasury to 7,000.