American Bitcoin, a firm associated with the Trump family, announced the deployment of nearly 11,300 new bitcoin mining rigs at its Alberta, Canada site, resulting in a 12% increase in its share price to $1.38. The company has fully integrated these new miners into its existing fleet, boosting its total ASICs to approximately 89,242 and adding 3.05 exahash per second to its operational capacity.
This move is expected to enhance the company's profitability by reducing electricity costs per coin, thanks to the high efficiency rating of the new mining rigs. According to Eric Trump, co-founder and chief strategy officer, this expansion demonstrates the company's commitment to scaling its hashrate and strengthening its position in the bitcoin market.
The new deployment marks the completion of a fleet expansion announced on March 3, 2026, and solidifies American Bitcoin's focus on bitcoin mining despite other companies shifting towards artificial intelligence and AI data centers. The company has also been expanding its bitcoin holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC and later increasing its treasury to 7,000 BTC.