Keel Infra Abandons Bitcoin Mining for AI and High-Performance Computing

Nasdaq-listed Keel Infra (KEEL.US) has abandoned its U.S. Bitcoin mining operations and shifted its focus to artificial intelligence and high-performance computing data centers.

The decision comes after a sharp decline in financial performance, with Q2 revenue dropping 50% year-over-year to $30.4 million, resulting in a net loss of approximately $65 million.

To alleviate cash-flow pressures, the company sold off 1,085 BTC between April 1 and August 7, raising roughly $75 million and reducing its remaining holdings to 1,861 BTC.

The move marks a repositioning of traditional mining companies as providers of computing infrastructure services, rather than solely focusing on cryptocurrency mining.