American Bitcoin, a firm connected to the Trump family, revealed on Wednesday the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller facility. This development led to a 12% increase in the company's share price, reaching $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, 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 the rising network difficulty in bitcoin mining. According to the company, scaling hashrate is a key strategy to strengthen its position in bitcoin.
Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners reflects the company's commitment to disciplined capital allocation and efficient growth in bitcoin exposure at an institutional scale. The new units mark the completion of a fleet expansion announced on March 3, 2026, indicating the company's decision to focus on 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.