American Bitcoin, a company tied to the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs at its Alberta, Canada site. This move has resulted in a 12% increase in the company's share price, reaching $1.38.
The newly added miners bring the total number of ASICs to approximately 89,242, contributing an additional 3.05 exahash per second to the company's operational capacity. The high efficiency of the new rigs, at 13.5 joules per terahash, is expected to reduce electricity costs and maintain profitability despite the rising network difficulty. According to Eric Trump, co-founder and chief strategy officer, the expansion reflects the company's commitment to growing its bitcoin exposure efficiently.
The new deployment marks the completion of a previously announced fleet expansion and demonstrates the company's decision to focus on bitcoin mining. 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.