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

Keel Infra, a Nasdaq-listed Bitcoin miner, has abandoned its U.S. Bitcoin mining operations and pivoted to artificial intelligence (AI) and high-performance computing (HPC) data centers.

The company cited a strategic shift towards more stable and profitable ventures as the reason for ending its U.S. Bitcoin mining activities.

Keel Infra's decision comes amid a challenging period, with the company reporting a 50% decline in second-quarter revenue to $30.4 million and a net loss of approximately $65 million.

The company will repurpose its existing mining facilities for AI and HPC data centers, leveraging its energy infrastructure and operational expertise.