Keel Abandons US Bitcoin Mining Amid Shift to Data Centers

Keel Infrastructure, formerly Bitfarms, has ceased all Bitcoin mining operations in the United States. The company's shift in focus to AI and high-performance computing data centers led to a significant drop in revenue: $30 million for Q2 2026, down 50% from the previous year.

The transition also resulted in an operating loss of $141 million in the same quarter. Keel now relies on lease negotiations for its three key sites and holds $819 million in liquidity to wait out deals amid power constraints in key regions.