American Bitcoin, a firm associated with the family of former US President Donald Trump, revealed on Wednesday the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site, resulting in a 12% increase in its share price to $1.38. The newly installed miners at the Alberta, Canada facility bring the company's total ASIC fleet to approximately 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. The firm emphasized that scaling hashrate is essential to strengthening its position in Bitcoin. According to Eric Trump, co-founder and chief strategy officer, the swift deployment of these miners at Drumheller demonstrates the company's commitment to leading through disciplined capital allocation and efficient growth. This move marks the completion of a fleet expansion announced on March 3, 2026, and signifies the company's resolve to focus on bitcoin mining operations.
Notably, American Bitcoin has been expanding its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC on March 18, and further increasing its treasury to 7,000 BTC by March 30.