American Bitcoin, a company with ties to the Trump family, has seen its shares rise by approximately 12% to $1.38 after announcing the deployment of nearly 11,300 new bitcoin mining rigs at its site in Drumheller. The company has fully installed these miners at its Alberta, Canada facility, bringing its total ASIC fleet to around 89,242. The new rigs contribute an additional 3.05 exahash per second to the company's operations, with an efficiency rating of 13.5 joules per terahash.
This high efficiency is crucial in reducing electricity costs and maintaining profitability amid increasing network difficulty. The firm emphasized that expanding its hashrate is key to strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners demonstrates the company's commitment to leading through disciplined capital allocation and efficient growth. The new units mark the completion of a fleet expansion announced on March 3, 2026, indicating the company's resolve to focus on bitcoin mining despite other miners shifting towards AI and data centers.
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.