American Bitcoin, a firm connected to the Trump family, revealed on Wednesday that it has expanded its mining operations with the deployment of nearly 11,300 new bitcoin mining rigs at its site in Drumheller. This development led to a 12% increase in the company's share price, which rose to $1.38.
The newly added miners are now fully operational at the Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242. The new rigs contribute an additional 3.05 exahash per second to the company's operational capacity, with an efficiency rating 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 the increasing difficulty of the Bitcoin network.
According to the company, scaling hashrate is a key strategy to strengthen its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners at Drumheller reflects the company's commitment to disciplined growth and efficient expansion of its Bitcoin operations. The addition of these new units marks the completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's dedication to Bitcoin mining.
Notably, American Bitcoin has increased its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, surpassing Mike Novogratz's Galaxy Digital, and further raising its BTC treasury to 7,000 by March 30.