Keel Infrastructure Abandons US BTC Mining for 100% AI Pivot Amid $141M Loss

Keel Infrastructure has made the drastic decision to shut down all its Bitcoin mining operations in the US, shifting its focus entirely to Artificial Intelligence (AI) development. This move comes after a significant decline in revenue and a substantial operating loss of $141 million in Q2.

The company's decision is likely due to the impact of the AI industry on crypto miners, with many facing financial difficulties. Keel Infrastructure has chosen to adapt to these changes by pivoting towards AI development, abandoning its previous focus on Bitcoin mining.

The price of Bitcoin currently sits at $64,466.84, close to its 50-day Exponential Moving Average (EMA) of $64,477.66. The 200-day EMA is lower at $63,772.24, providing deeper support for the cryptocurrency. However, the MACD death cross remains bearish, indicating a potential decline in price.