American Bitcoin, a mining and treasury company with ties to the Trump family, revealed on Wednesday the deployment of approximately 11,300 additional bitcoin mining units at its facility in Drumheller, Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38.
The newly installed miners are fully operational, expanding the company's fleet of application-specific integrated circuits (ASICs) to around 89,242. The new mining rigs contribute an additional 3.05 exahash per second (EH/s) at an efficiency rate of 13.5 joules per terahash (J/TH), enhancing the company's overall operational capacity. This high efficiency is crucial as it reduces 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, scaling hashrate is a key strategy to strengthen its position in the bitcoin market.
The company's co-founder and chief strategy officer, Eric Trump, stated that the swift deployment of these miners at Drumheller demonstrates the company's commitment to leading through rapid action, disciplined capital allocation, and efficient growth of its bitcoin exposure at an institutional scale. The operational completion of this fleet expansion, initially announced on March 3, 2026, signifies the company's decision to reinforce its focus on bitcoin mining, unlike other miners that are shifting their focus towards artificial intelligence and AI data centers.
Furthermore, American Bitcoin has been expanding its bitcoin holdings, reaching 6,899 BTC by March 18, and subsequently increasing it to 7,000 BTC by March 30, making it the 16th-largest bitcoin holder and surpassing Mike Novogratz's Galaxy Digital.