Headline: Trump-linked American Bitcoin ramps up mining power — shares jump 12%
American Bitcoin (ABTC), the mining-and-treasury firm associated with the Trump family, said Wednesday it has deployed nearly 11,300 new Bitcoin mining rigs at its Drumheller, Alberta facility — a move that sent its stock up roughly 12% to $1.38.
The company reported the additions are now fully operational, bringing its fleet of ASIC miners to about 89,242 units and adding an incremental 3.05 exahash per second (EH/s) of hashing power at an efficiency of 13.5 joules per terahash (J/TH). High efficiency matters because lower J/TH reduces electricity cost per coin, helping miners remain profitable as Bitcoin’s network difficulty increases.
“Scaling hashrate is one of the ways we strengthen our position in Bitcoin,” American Bitcoin said. Eric Trump, the company’s co-founder and chief strategy officer, framed the deployment as evidence of ABTC’s playbook: “moving quickly, allocating capital with discipline, and growing our Bitcoin exposure efficiently at institutional scale.”
The Drumheller expansion completes a fleet increase first announced on March 3, 2026, and signals that ABTC is doubling down on traditional mining even as some other public miners shift capital and infrastructure toward artificial intelligence and AI data centers.
ABTC has also been bulking up its Bitcoin treasury: the firm reported boosting holdings to 6,899 BTC on March 18 — surpassing Mike Novogratz’s Galaxy Digital — and then increasing its stash to 7,000 BTC by March 30, making it the 16th-largest known holder.
What this means: the company’s added 3.05 EH/s, deployed with relatively low-power ASICs, should improve production per megawatt and help ABTC weather rising difficulty. The market’s positive reaction to the announcement underscores investor appetite for miners that can scale efficiently and maintain cost advantages.
Read more AI-generated news on: undefined/news
