KEEL Dives 6.8% as Shift to AI Data Centers Takes Hold
Keel Infrastructure (KEEL) has seen its stock price drop 6.8% following its pivot away from Bitcoin mining to developing AI data centers in North America.
The company aims to secure multiple hyperscaler leases and expand its gigawatt-scale power pipeline to meet rising computing demand, with plans to start delivering hyperscaler orders as early as 2027.
Keel's shift towards AI-focused infrastructure is expected to reshape its investment narrative and risk profile, with the potential for long-term, lease-backed cash flows despite current losses and a premium valuation.
The company has made progress in scaling high-performance compute sites and targeting hyperscaler leases, with the recent approval of 96 MW of capacity into a new Sherbrooke AI and HPC campus being a significant development.