Keel Infrastructure Shifts Focus to High-Performance Computing in Sherbrooke

Keel Infrastructure is shifting its focus from Bitcoin mining to high-performance computing and artificial intelligence (HPC and AI) applications. The company has received approval from the City of Sherbrooke to transfer and operate 96 MW of existing power capacity for HPC and AI use.

The proposed data centre in Sherbrooke would consolidate power from three current Bitcoin-mining sites into a single campus, rather than requesting additional electricity. Keel plans to change the use of the 96 MW from cryptocurrency mining to HPC and AI applications, subject to review and approval by Quebec's Ministry of Economy, Innovation and Energy.

The company has entered an agreement to purchase land for the proposed data centre, which is approximately 100 miles east of Montreal. The transaction remains conditional and is expected to close during the first quarter of 2027.

Keel expects to begin marketing the Sherbrooke capacity in 2027, with 2028 listed as the earliest date the project could be ready for service. The company's presentation notes that the 96 MW does not include another 74 MW of secured capacity at other sites in the province.

The proposed conversion comes as electricity sales to cryptocurrency customers continue to generate millions of dollars for Sherbrooke, with a projected $14.282 million in profit from electricity sales in 2026, down from $18.446 million in the 2025 budget.