American Bitcoin, a mining and treasury firm with ties to the Trump family, revealed on Wednesday that it has bolstered its bitcoin mining capabilities with the addition of approximately 11,300 new mining rigs at its site in Drumheller, Alberta, Canada. This development triggered a 12% spike in the company's share price, which rose to $1.38. The newly deployed miners have increased the firm's fleet of application-specific integrated circuits (ASICs) to around 89,242.
Furthermore, these new rigs contribute an additional 3.05 exahash per second (EH/s) to the company's operational capacity, boasting an efficiency rating of 13.5 joules per terahash (J/TH). This high efficiency is crucial as it helps reduce electricity costs per coin, enabling American Bitcoin to maintain profitability despite the increasing difficulty of mining bitcoin. The company emphasized that expanding its hashrate is a key strategy for strengthening its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that bringing these miners online demonstrates the company's commitment to rapid growth, disciplined capital allocation, and efficient expansion of its bitcoin operations at an institutional scale.
The deployment of these new units marks the completion of a fleet expansion initiative first announced on March 3, 2026, indicating the company's decision to reinforce its focus on bitcoin mining. This move comes as some other miners are redirecting their resources towards artificial intelligence and AI data centers. Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest bitcoin holder and surpassing Mike Novogratz's Galaxy Digital. By March 30, the company had further expanded its BTC treasury to 7,000.