American Bitcoin, a company tied to the Trump family, has seen its shares rise by approximately 12% to $1.38 after unveiling the deployment of 11,298 additional bitcoin mining ASICs at its site in Drumheller. The firm's share price increase was prompted by the news of this significant expansion. The newly added miners are now fully operational at the Alberta, Canada facility, bringing the total number of ASICs to around 89,242. The new mining 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 in reducing electricity costs per coin, enabling the company to maintain profitability despite the rising network difficulty that makes bitcoin mining more challenging. According to the company, increasing hashrate is a key strategy for strengthening its position in the bitcoin market. The swift deployment of these new miners at Drumheller reflects the company's approach to leadership, characterized by rapid action, disciplined capital allocation, and efficient growth of its bitcoin exposure at an institutional scale, as stated by Eric Trump, co-founder and chief strategy officer at American Bitcoin.
The addition of these new units marks the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's commitment to expanding its bitcoin mining operations. Notably, this move comes at a time when several other mining companies are redirecting their focus and resources towards artificial intelligence and AI data centers. Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder and surpassing Mike Novogratz's Galaxy Digital. By March 30, the company further expanded its BTC treasury to 7,000.