American Bitcoin, a mining and treasury company tied to the Trump family, has announced the deployment of approximately 11,300 new bitcoin mining rigs at its site in Drumheller, Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38.
The newly added miners are now fully operational, bringing the total number of ASICs to around 89,242 and contributing an additional 3.05 exahash per second to the company's mining capacity. The high efficiency of the new rigs, at 13.5 joules per terahash, is expected to reduce electricity costs and maintain profitability despite rising network difficulty. According to the company, this expansion is part of its strategy to strengthen its position in the bitcoin market.
Eric Trump, co-founder and chief strategy officer, stated that the move reflects the company's intention to lead through swift action, disciplined capital allocation, and efficient growth. The expansion is also seen as a sign of the company's commitment to bitcoin mining, even as other miners are shifting focus to artificial intelligence and data centers. Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000 BTC.