American Bitcoin, a mining and treasury firm with ties to the Trump family, has announced the deployment of 11,298 additional bitcoin mining ASICs at its facility in Drumheller, resulting in a 12% increase in its share price to $1.38. The newly installed miners bring the company's total fleet of ASICs to approximately 89,242, with the new additions contributing 3.05 exahash per second at an efficiency of 13.5 joules per terahash.
This high efficiency is crucial in reducing electricity costs and maintaining profitability amidst rising network difficulty. According to the company, expanding its hashrate is a key strategy for strengthening its position in the Bitcoin market.
The move reflects the company's commitment to efficient growth and institutional-scale Bitcoin exposure. The deployment of the 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, and later raising its treasury to 7,000 BTC.