American Bitcoin, a mining and treasury company with ties to the Trump family, revealed on Wednesday that it has deployed almost 11,300 additional bitcoin mining units at its site in Drumheller, Alberta, Canada. This development led to a 12% increase in the company's share price, reaching $1.38. The newly added miners are now fully operational, bringing the total number of ASICs to approximately 89,242.
These new units contribute an extra 3.05 exahash per second to the company's existing fleet, 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 the rising network difficulty of Bitcoin mining.
The company emphasized that expanding its hashrate is a key strategy to strengthen its position in the Bitcoin market. Eric Trump, co-founder and chief strategy officer, stated that the swift deployment of these miners demonstrates the company's commitment to leading through disciplined capital allocation and efficient growth. This move marks the completion of a fleet expansion announced on March 3, 2026, indicating the company's decision to focus on bitcoin mining despite other miners shifting towards artificial intelligence and data centers.
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.