American Bitcoin, a mining and treasury firm connected to the Trump family, revealed on Wednesday the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site, triggering a 12% increase in its share price to $1.38. The company has fully integrated these miners into its Alberta, Canada facility, expanding its fleet of ASICs to approximately 89,242.
This addition contributes an extra 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 rising network difficulty. According to the company, increasing hashrate is a key strategy for strengthening its position in Bitcoin.
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 capital allocation, efficient growth, and institutional-scale expansion. The new units mark the completion of a fleet expansion 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.