American Bitcoin, a firm associated with the Trump family, revealed on Wednesday that it has augmented its mining operations by deploying 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 installed miners have enhanced the company's fleet of ASICs to around 89,242, contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash.
This high efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty. In a statement, the firm emphasized that scaling hashrate is a key strategy to strengthen its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, expressed the company's commitment to leading through swift action, disciplined capital allocation, and efficient growth in Bitcoin exposure at an institutional scale. The deployment of these new miners marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining.
Notably, American Bitcoin has increased its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, surpassing Mike Novogratz's Galaxy Digital, and further raising its BTC treasury to 7,000 by March 30.