American Bitcoin, a firm with ties to the Trump family, has announced the deployment of 11,298 additional bitcoin mining ASICs at its Drumheller site in Alberta, Canada. This move has resulted in a 12% increase in the company's share price, reaching $1.38. The newly added miners bring the total fleet of ASICs to approximately 89,242, with an incremental 3.05 exahash per second (EH/s) at an efficiency of 13.5 joules per terahash (J/TH). This high efficiency is crucial in reducing electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty.
According to the company, scaling hashrate is a key strategy to strengthen its position in Bitcoin. The expansion, which was first announced on March 3, 2026, demonstrates the company's commitment to bitcoin mining operations.
American Bitcoin has also increased its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, and later raising its treasury to 7,000 BTC.