American Bitcoin, a company tied to the Trump family, has announced the addition of nearly 11,300 new bitcoin mining rigs to its Drumheller facility. This move has resulted in a 12% increase in the company's share price, reaching $1.38.
The newly deployed miners are fully operational at the Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242. The new mining equipment contributes an additional 3.05 exahash per second to the company's operational fleet, with an efficiency rating of 13.5 joules per terahash. This high efficiency is crucial in reducing electricity costs per coin, allowing the company to maintain profitability despite rising network difficulty. According to the company, increasing hashrate is key to strengthening its position in the bitcoin market.
The expansion reflects the company's strategy of rapid growth, disciplined capital allocation, and efficient scaling of bitcoin exposure. The new deployment marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's commitment to bitcoin mining operations.
As of March 18, American Bitcoin has increased its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, and further raised its BTC treasury to 7,000 by March 30.