American Bitcoin, a mining and treasury company with ties 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 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 around 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, the new miners were fully operational at the Drumheller facility, underscoring the firm's commitment to scaling its hashrate and strengthening its position in the bitcoin market. In a statement, Eric Trump, co-founder and chief strategy officer, emphasized the company's strategy of rapid expansion, disciplined capital allocation, and efficient growth of its bitcoin exposure at an institutional scale. The deployment of the new miners marks the completion of a fleet expansion announced on March 3, 2026, demonstrating 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 BTC treasury to 7,000.