American Bitcoin, a firm connected to the Trump family, revealed on Wednesday that it has added nearly 11,300 new bitcoin mining rigs to its site in Drumheller, resulting in a 12% increase in its share price to $1.38. The company has fully deployed these miners at its Canadian facility, boosting its total ASICs to approximately 89,242. The new rigs contribute an additional 3.05 exahash per second to the company's operational fleet, 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, scaling hashrate is key to 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 leading through disciplined capital allocation and efficient growth. 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 operations.
Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000.