American Bitcoin, a mining and treasury company linked to the Trump family, revealed on Wednesday that it has deployed nearly 11,300 new bitcoin mining rigs at its Drumheller facility. This development led to a 12% increase in the company's share price, reaching $1.38. The newly added miners are now fully operational at the Alberta, Canada facility, expanding the company's fleet of ASICs to approximately 89,242. These additional rigs contribute an extra 3.05 exahash per second to the company's existing operational capacity, with an efficiency rating of 13.5 joules per terahash.
This high efficiency is crucial as it helps reduce 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 increasing its hashrate is a key strategy to strengthen its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners at Drumheller demonstrates the company's commitment to leading through disciplined capital allocation and efficient growth of its bitcoin exposure at an institutional scale.
The new units represent the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to further invest in bitcoin mining operations. Notably, American Bitcoin has been expanding its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital. By March 30, the company had increased its BTC treasury to 7,000.