Keel Infrastructure Exits US Bitcoin Mining Amid Revenue Decline

Keel Infrastructure has effectively exited US Bitcoin mining operations in favor of high-performance computing (HPC) site construction. The digital infrastructure company's second-quarter report revealed that it had decommissioned all its US Bitcoin mining operations, leading to a significant decline in revenue.

The company reported $30 million in revenue for the quarter, down 50% year-on-year. This decrease was largely attributed to the shutdown of its Moses Lake crypto mining operations in April 2026 and a decline in the average Bitcoin price.

Keel held 1,861 BTC as of Friday after selling 1,085 BTC for $75 million since April 1 as part of its ongoing wind-down of its Bitcoin holdings. The company also reported about $819 million in liquidity, including $698 million in unrestricted cash.