Trump-linked American Bitcoin shares spike over 12% after announcing more mining power

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Trump-linked American Bitcoin shares spike over 12% after announcing more mining power The Trump family-linked mining and treasury company announced 11,298 additional bitcoin mining ASICs at its Drumheller site. What to know: - American Bitcoin, a mining and treasury firm tied to Donald Trump's family, added nearly 11,300 new bitcoin mining rigs at its Drumheller, Alberta, site, sending its share price up about 12% to $1.38. - The deployment boosts the company’s fleet to roughly 89,242 ASIC miners and adds 3.05 exahash per second of capacity at a high efficiency of 13.5 joules per terahash, which the firm says lowers electricity costs per coin. - The expansion, framed by co-founder Eric Trump as disciplined, large-scale growth, comes as American Bitcoin doubles down on mining and grows its BTC treasury to 7,000 coins, even as some rivals shift resources toward artificial-intelligence data centers. 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. More For You Stratiphy will offer access to three ETNs provided by 21Shares: those covering bitcoin, ether and one combining BTC and gold. What to know: - Investors in the U.K. can once again hold crypto ETNs in their tax-free individual savings accounts (ISAs). - Stratiphy will offer access to three ETNs provided by 21Shares, those covering bitcoin, ether and one combining bitcoin and gold, through an Innovative Finance ISA. - The U.K.'s tax authority classified crypto ETNs as...

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