American Bitcoin, a company linked to the Trump family, has announced the deployment of 11,298 additional bitcoin mining ASICs at its Drumheller site in Alberta, Canada. This move has resulted in a 12% increase in the company's share price, reaching $1.38. The newly added miners bring the total number of ASICs to approximately 89,242, with an incremental hashing power of 3.05 exahash per second at an efficiency of 13.5 joules per terahash.
According to the company, this high efficiency is crucial in reducing electricity costs and maintaining profitability amidst rising network difficulty. The expansion is seen as a strategic move to strengthen the company's position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the deployment reflects the company's commitment to rapid growth, disciplined capital allocation, and efficient expansion of its Bitcoin operations.
The new units at Drumheller mark the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining. 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.