American Bitcoin, a company with ties to the Trump family, has seen its shares jump by approximately 12% to $1.38 after revealing the deployment of 11,298 additional bitcoin mining ASICs at its Drumheller site in Alberta, Canada. This move increases the company's fleet of ASICs to around 89,242 and adds 3.05 exahash per second to its operational capacity. The new mining rigs boast an efficiency rating of 13.5 joules per terahash, which helps reduce electricity costs and maintains profitability despite rising network difficulties. According to the company, expanding its hashrate is a key strategy for strengthening its position in the Bitcoin market.
The deployment of these new miners marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's commitment to bitcoin mining. This development comes as American Bitcoin has been increasing its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 bitcoins and later raising its treasury to 7,000 bitcoins.