Keel Infrastructure Corp. Reports 50% Revenue Drop Amid Bitcoin Mining Shutdown

Keel Infrastructure Corp., the company behind KEEL, has reported a significant decline in revenue due to the shutdown of its Bitcoin mining operations. The revenue fell by 50% year-over-year to $30 million. This substantial drop was accompanied by a net loss of $64 million and negative adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).

Despite this setback, Keel Infrastructure Corp. remains optimistic about its future prospects. The company has emphasized the importance of its pivot to HPC (High-Performance Computing) infrastructure and ongoing site development, which is being supported by strong liquidity of $819 million.