American Bitcoin, a firm linked to the family of former US President Donald Trump, revealed on Wednesday that it has added approximately 11,300 new bitcoin mining rigs to its Drumheller facility. This development led to a 12% increase in the company's share price, reaching $1.38. The newly deployed miners are now fully operational at the Alberta, Canada site, bringing the total number of ASICs to around 89,242.
The additional rigs contribute an extra 3.05 exahash per second, with an efficiency rate of 13.5 joules per terahash, thereby reducing electricity costs and enabling the company to maintain profitability despite rising network difficulties. The high efficiency rating is crucial as it minimizes the company's electricity expenses per coin, allowing American Bitcoin to remain profitable even as the Bitcoin network becomes increasingly challenging to mine.
In a statement, 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 the swift deployment of these miners at Drumheller exemplifies the company's commitment to disciplined capital allocation, rapid growth, and efficient expansion of its Bitcoin operations at an institutional scale. The new units represent the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining despite other miners shifting their attention to artificial intelligence and AI data centers. American Bitcoin has also been expanding its BTC holdings, raising them to 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital.
By March 30, the company's BTC treasury had grown to 7,000.