Keel Infrastructure Abandons US Bitcoin Mining for AI and High-Performance Computing

Keel Infrastructure has closed down all its US bitcoin mining operations to focus on AI and high-performance computing, citing better returns from this sector. The company's Q2 revenue dropped by 50% to $30.4 million due to the shift, resulting in a net loss of $65 million.

As part of the pivot, Keel sold 1,085 BTC to boost liquidity to $819 million. The company is now focused on securing AI tenants for its power-rich sites, aiming to prove that AI workloads can generate sustainable revenue from scarce electricity resources.

This move reflects a broader industry trend prioritizing AI infrastructure over traditional bitcoin mining due to better profitability potential.