American Bitcoin, a company linked to the Trump family and engaged in mining and treasury activities, revealed on Wednesday the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site. This development led to a 12% increase in the company's share price, reaching $1.38. The newly introduced miners are now fully operational at the Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242.
The additional mining rigs contribute an extra 3.05 exahash per second to the company's current operational capacity, achieving an efficiency rate of 13.5 joules per terahash. 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 rising network difficulty that makes bitcoin mining more challenging.
The company emphasized that increasing 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, highlighted the company's commitment to swift expansion, disciplined capital allocation, and efficient growth in bitcoin exposure at an institutional scale. The introduction of these new miners marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's decision to further invest in bitcoin mining operations.
Notably, American Bitcoin has been expanding its bitcoin holdings, reaching 6,899 by March 18 and surpassing Mike Novogratz's Galaxy Digital to become the 16th-largest bitcoin holder. By March 30, the company had increased its BTC treasury to 7,000.