Keel Infra Abandons US Bitcoin Mining for AI and HPC Data Centers

Keel Infra, a Nasdaq-listed Bitcoin miner, has announced it will cease all U.S. Bitcoin mining operations and pivot to artificial intelligence (AI) and high-performance computing (HPC) data centers.

The company cited a strategic shift as the reason for this decision, aiming to repurpose its existing mining facilities for more stable and profitable ventures.

This move comes after Keel Infra reported second-quarter revenue of $30.4 million, a 50% decline from the same period last year, and a net loss of approximately $65 million.

The company sold 1,085 BTC between April 1 and August 7 for about $75 million, reducing its Bitcoin holdings to 1,861 BTC.