American Bitcoin, a firm with ties to the Trump family, announced the deployment of nearly 11,300 new bitcoin mining rigs at its Alberta, Canada site on Wednesday, resulting in a 12% increase in its share price to $1.38. The company has fully integrated these miners into its facility, expanding its fleet of ASICs to approximately 89,242 and increasing its operational capacity by 3.05 exahash per second. This move is expected to maintain profitability despite rising network difficulties, thanks to the high efficiency rating of the new rigs. According to Eric Trump, co-founder and chief strategy officer, the swift deployment of these miners demonstrates the company's strategic approach to growing its bitcoin presence.
The expansion is part of a previously announced plan and underscores the company's commitment to bitcoin mining, even as other miners diversify into AI and data centers. Recently, American Bitcoin increased its BTC holdings, becoming the 16th-largest bitcoin holder with a treasury of 7,000 BTC.