American Bitcoin, a firm linked to the Trump family, has announced the deployment of nearly 11,300 new bitcoin mining rigs 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 deployed miners bring the total number of ASICs at the facility to approximately 89,242, with an additional 3.05 exahash per second of mining power. The high efficiency of the new rigs, at 13.5 joules per terahash, is expected to reduce electricity costs and maintain profitability despite rising network difficulty. According to Eric Trump, co-founder and chief strategy officer, the expansion reflects the company's strategy to scale its hashrate and grow its bitcoin exposure efficiently. The move marks the completion of a fleet expansion announced on March 3, 2026, and demonstrates the company's commitment to bitcoin mining.
Recently, American Bitcoin increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and later raised its treasury to 7,000 BTC.