American Bitcoin, a company linked to the Trump family, announced the deployment of nearly 11,300 new bitcoin mining rigs at its Alberta, Canada site, resulting in a 12% increase in its share price to $1.38. The company has fully integrated these miners into its facility, boosting its ASIC fleet to approximately 89,242 and adding 3.05 exahash per second to its operational capacity. This move is expected to enhance the company's profitability due to the high efficiency rating of the new miners, which lowers electricity costs per coin. According to Eric Trump, co-founder and chief strategy officer, this expansion reflects the company's commitment to scaling its hashrate and growing its bitcoin exposure efficiently.
The addition of these new units marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's decision to focus on bitcoin mining despite industry trends towards artificial intelligence and AI data centers. Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000 BTC.