American Bitcoin (ABTC) shares rose over 12% to $1.38 after announcing the addition of nearly 11,300 mining rigs in Alberta, Canada. This expansion increases their mining capacity to approximately 89,242 rigs, enhancing efficiency and profitability.
Mentioned in this story
American Bitcoin (ABTC), a mining and treasury firm tied to the family of U.S. President Donald Trump announced on Wednesday it had added nearly 11,300 bitcoin mining rigs at its Drumheller site. The news caused its share price to rise by about 12% to $1.38.
The firm said the miners were fully deployed at its facility in Alberta, Canada, increasing its fleet of ASICs (application-specific integrated circuits) to roughly 89,242. It also said that the new bitcoin mining rigs contribute an incremental 3.05 exahash per second (EH/s) at an efficiency of 13.5 joules per terahash (J/TH) to its current operational fleet.
This high efficiency rating (13.5 J/TH) is critical because it lowers the company’s electricity cost per coin, allowing ABTC to remain profitable even as rising network difficulty makes Bitcoin harder to mine, the firm explained in its statement. “Scaling hashrate is one of the ways we strengthen our position in Bitcoin,” the firm said.
“Bringing these miners online at Drumheller reflects exactly how we intend to lead: moving quickly, allocating capital with discipline, and growing our Bitcoin exposure efficiently at institutional scale,” said Eric Trump, co-founder and chief strategy officer at American Bitcoin, in a statement.
The American Bitcoin statement added that the new units at Drumheller represent the operational completion of a fleet expansion first announced on March 3, 2026, a sign that the company has decided to double down on bitcoin mining operations even as several other miners pivot capital and infrastructure to artificial intelligence and AI data centers.
On March 18, American Bitcoin raised its BTC holdings to 6,899, becoming the 16th-largest bitcoin holder, overtaking Mike Novogratz’s Galaxy Digital. By March 30, the Trump-backed firm raised its BTC treasury to 7,000.
The spike in American Bitcoin shares was caused by the announcement of adding nearly 11,300 bitcoin mining rigs, increasing their operational capacity.
American Bitcoin's mining capacity increased to roughly 89,242 rigs after the addition of the new mining units.
The new bitcoin mining rigs have an efficiency rating of 13.5 joules per terahash (J/TH), which helps lower electricity costs per mined coin.
Bitcoin Price Analysis for May 23: Bearish Sentiment Continues as Key Levels Hold
FET's exchange supply is vanishing; traders are on alert.
Is Chainlink (LINK) on track to triple in value and hit a $20B market cap in 5 years?
Crypto expert warns Ethereum could plummet to $800 or $400.
Ethereum's social sentiment collapses as price retests $2,100
BitGo and Galaxy Digital are in court over a failed $1.2 billion merger, with BitGo seeking $100 million in damages.
See every story in Crypto — including breaking news and analysis.