American Bitcoin, a mining and treasury company with ties to the Trump family, revealed on Wednesday that it has installed approximately 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 deployed miners are now fully operational at the Alberta, Canada facility, bringing the total number of ASICs to around 89,242. The additional mining rigs contribute an extra 3.05 exahash per second to the company's current operational fleet, with an efficiency rating of 13.5 joules per terahash.
This high 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 scaling hashrate is a key strategy to strengthen its position in the bitcoin market.
In a statement, Eric Trump, co-founder and chief strategy officer at American Bitcoin, said, 'The deployment of these miners at Drumheller reflects our commitment to leadership through swift action, disciplined capital allocation, and efficient growth of our bitcoin exposure at an institutional scale.' The new mining units at Drumheller mark the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining operations. Notably, American Bitcoin has increased its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, surpassing Mike Novogratz's Galaxy Digital. By March 30, the company's BTC treasury had grown to 7,000.