Keel Infrastructure Shifts 96 MW From Bitcoin Mining to High-Performance Computing

Keel Infrastructure Corp. (KEEL) recently received approval from the City of Sherbrooke to transfer and operate 96 MW of existing capacity, which is set to be reclassified from Bitcoin mining to high-performance computing and AI.

The company gained this approval along with permission to purchase nearby land for a new data center campus. The decision also allows Keel to consolidate three mining sites into one campus without requesting additional power.

This shift in strategy may impact the company's investment narrative, as investors are now focusing on converting secured megawatts into AI capacity and reducing losses.

The success of this project will likely influence how quickly the market shifts from valuing Keel based on power capacity to contracted AI data center revenue and progress toward narrowing its sizeable losses.