American Bitcoin, a mining and treasury company with ties to the Trump family, has revealed the deployment of 11,298 additional bitcoin mining ASICs at its site in Drumheller, resulting in a 12% increase in its share price to $1.38. The newly installed miners are now fully operational at the Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242 and contributing an extra 3.05 exahash per second to the company's fleet. This increased capacity is achieved with a high efficiency rating of 13.5 joules per terahash, which helps 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.
The swift deployment of these new miners reflects the company's commitment to disciplined capital allocation, rapid growth, and efficient expansion of its Bitcoin operations at an institutional scale, as stated by Eric Trump, co-founder and chief strategy officer. This move marks the completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's dedication to Bitcoin mining. Notably, American Bitcoin has been expanding its BTC holdings, reaching 6,899 by March 18 and becoming the 16th-largest bitcoin holder, surpassing Mike Novogratz's Galaxy Digital, and further increasing its treasury to 7,000 by March 30.