American Bitcoin, a firm associated with the family of former US President Donald Trump, has announced the deployment of approximately 11,300 new bitcoin mining machines at its site in Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38. The newly introduced miners are now fully operational, bringing the total number of ASICs to around 89,242 and contributing an additional 3.05 exahash per second to the company's existing capacity.
The high efficiency of these new rigs, at 13.5 joules per terahash, is expected to reduce electricity costs and maintain profitability despite rising network difficulty. According to the company, expanding its hashrate is a key strategy for strengthening its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners reflects the company's commitment to disciplined growth and efficient expansion. The move marks the completion of a previously announced fleet expansion and demonstrates the company's dedication to bitcoin mining, even as other miners diversify into AI and data centers.
Recently, American Bitcoin increased its bitcoin holdings to 6,899, becoming the 16th-largest holder, and later raised its treasury to 7,000 BTC.