Keel Infra Abandons U.S. Bitcoin Mining for AI and HPC Data Centers

Keel Infra, a Nasdaq-listed Bitcoin miner, is making a significant shift in its strategy by exiting U.S. Bitcoin mining and pivoting to artificial intelligence (AI) and high-performance computing (HPC) data centers.

The company will repurpose its existing mining facilities to support these new ventures. This decision comes amid challenging times for Keel Infra, which reported a 50% decline in second-quarter revenue from the same period last year, with revenue totaling $30.4 million.

The company also posted a quarterly net loss of approximately $65 million. Between April 1 and August 7, Keel Infra sold 1,085 BTC for about $75 million, reducing its Bitcoin holdings to 1,861 BTC.

This move reflects a broader trend among cryptocurrency miners who are increasingly diversifying into AI and HPC infrastructure, which offers more stable and predictable revenue streams compared to the volatile Bitcoin market.