American Bitcoin, a firm with ties to the Trump family, revealed on Wednesday that it has deployed approximately 11,300 new bitcoin mining rigs at its site in Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38. The newly added miners are now fully operational, bringing the total number of ASICs to around 89,242. The additional rigs contribute an extra 3.05 exahash per second to the company's existing fleet, with an efficiency rate of 13.5 joules per terahash.
This high efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite rising network difficulties. According to the company, expanding its hashrate is a key strategy for strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners demonstrates the company's commitment to leading the industry through disciplined capital allocation and efficient growth. The new units represent the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to reinforce its bitcoin mining operations.
Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000 BTC.