American Bitcoin, a firm connected to the Trump family, revealed on Wednesday that it has installed approximately 11,300 additional bitcoin mining units at its site in Drumheller, resulting in a 12% increase in its share price to $1.38. The newly deployed miners are now operational at the facility in Alberta, Canada, boosting the company's fleet of application-specific integrated circuits (ASICs) to around 89,242.
These new mining rigs contribute an additional 3.05 exahash per second (EH/s) to the company's existing operations, with an efficiency rating of 13.5 joules per terahash (J/TH). This high level of efficiency is crucial as it reduces the company's electricity costs per coin, enabling American Bitcoin to maintain profitability despite the increasing difficulty of the Bitcoin network. The company emphasized that expanding its hashrate is a key strategy for strengthening its position in the Bitcoin market.
In a statement, Eric Trump, co-founder and chief strategy officer at American Bitcoin, noted, 'The deployment of these miners at Drumheller demonstrates our commitment to leadership through swift action, disciplined capital allocation, and efficient growth of our Bitcoin holdings at an institutional scale.' The new mining units at Drumheller mark the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to further invest in bitcoin mining operations. This move comes as some other miners are redirecting their capital and infrastructure towards artificial intelligence and AI data centers.
American Bitcoin has also been expanding its BTC holdings, raising them to 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital. By March 30, the company had further increased its BTC treasury to 7,000.