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 Alberta, Canada site. This development led to a 12% increase in the company's share price, reaching $1.38.
The newly added miners are now fully operational, expanding the company's fleet of ASICs to approximately 89,242. This expansion contributes an additional 3.05 exahash per second to the company's current operational capacity, with an efficiency rating of 13.5 joules per terahash. This high efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty.
In a statement, the company emphasized that scaling hashrate is key to strengthening its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners reflects the company's commitment to disciplined capital allocation and efficient growth. This move marks the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's dedication to bitcoin mining operations. 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 by March 30.