American Bitcoin, a firm linked to the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs at its Alberta, Canada site. This move has led to a 12% increase in the company's share price, reaching $1.38. The newly added miners have expanded the company's fleet of ASICs to approximately 89,242, with the new rigs contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash. This high efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty.
According to the company, scaling hashrate is key to strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners reflects the company's commitment to leading the industry through disciplined capital allocation and efficient growth. The new units represent the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining operations. Recently, 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.