Keel Infrastructure Ditches Mining for AI-Focused Computing Amid Heavy Losses

Bitfarms, now rebranded as Keel Infrastructure, has undergone significant changes in response to heavy losses. The company sold 1,670 Bitcoin since April 2026 and shut down all US mining operations.

The shift towards AI-focused high-performance computing has caused the company's Bitcoin cost basis to nearly double to $205,946. This means Keel must see much higher Bitcoin prices to profit from its remaining holdings.

Despite suffering $210 million in losses in the first half of 2026, Keel holds $715 million in cash, funding its costly transition.