Keel Infrastructure Abandons U.S. Bitcoin Mining for AI Data Centers

Keel Infrastructure has shifted its focus from Bitcoin mining in the U.S. to repurposing its sites for artificial intelligence and high-performance computing data centers.

This change resulted in a significant drop in revenue, with Q2 earnings falling by 50% year-over-year to $30.4 million, accompanied by a net loss of $65 million.

The decline is attributed to lower Bitcoin prices and decreased mining activity, which prompted Keel to sell 1,085 BTC for $75 million.

The company plans to liquidate its remaining Bitcoin holdings entirely in 2026.

Keel is still actively engaged in Bitcoin mining operations in Canada but is also exploring the conversion of its former mining infrastructure into AI-focused facilities there.