American Bitcoin, a firm connected to the Trump family, revealed on Wednesday that it has deployed nearly 11,300 new bitcoin mining rigs at its site in Drumheller. This development led to a 12% increase in the company's share price, which rose to $1.38.
The newly added miners are fully operational at the Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242. The new rigs contribute an additional 3.05 exahash per second to the company's existing operational fleet, with an efficiency rating of 13.5 joules per terahash.
This high efficiency is crucial as it reduces the company's electricity costs per coin, enabling American Bitcoin to remain profitable despite the rising network difficulty that makes Bitcoin more challenging to mine. The company emphasized that scaling hashrate is key to strengthening its position in Bitcoin.
In a statement, Eric Trump, co-founder and chief strategy officer, said, 'The deployment of these new miners at Drumheller reflects our commitment to leadership through swift action, disciplined capital allocation, and efficient growth of our Bitcoin exposure at an institutional scale.' The new units at Drumheller mark the completion of a fleet expansion initially announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining operations. 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.
By March 30, the company had further increased its BTC treasury to 7,000.