American Bitcoin, a mining and treasury company with ties to the Trump family, revealed on Wednesday that it has deployed approximately 11,300 new bitcoin mining rigs at its site in Drumheller, Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38. The newly added miners bring the total number of ASICs (application-specific integrated circuits) at the facility to around 89,242.
Furthermore, these new rigs contribute an additional 3.05 exahash per second (EH/s) to the company's operational capacity, with an efficiency rating of 13.5 joules per terahash (J/TH). This high efficiency is crucial as it reduces the company's electricity costs per coin, enabling American Bitcoin to maintain profitability despite the increasing difficulty of the Bitcoin network. 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, 'The activation of these miners at Drumheller exemplifies our leadership approach: swift action, disciplined capital allocation, and efficient growth of our Bitcoin holdings at an institutional scale.' The deployment of these new units marks the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's commitment to scaling its bitcoin mining operations. Notably, American Bitcoin has 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 had further increased its BTC treasury to 7,000.