American Bitcoin, a firm with ties to the Trump family, revealed on Wednesday that it has installed nearly 11,300 new bitcoin mining rigs at 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 facility, expanding the company's ASIC fleet to approximately 89,242. The additional mining rigs contribute an extra 3.05 exahash per second, with an efficiency rating of 13.5 joules per terahash, to the company's existing operations. This high efficiency is crucial as it helps reduce electricity costs per coin, enabling American Bitcoin to maintain profitability despite the rising network difficulty that makes bitcoin mining more challenging.
According to the company, increasing hashrate is a key strategy to strengthen its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners at Drumheller reflects the company's commitment to disciplined capital allocation, efficient growth, and scaling its bitcoin exposure. The new units mark the completion of a fleet expansion announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining.
This move comes as other miners are shifting their focus to artificial intelligence and AI data centers. American Bitcoin has also been expanding its BTC holdings, reaching 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.