Keel Infrastructure Shuts Down US Mining Sites Amid Revenue Decline

Keel Infrastructure (formerly Bitfarms) has decommissioned all its mining facilities in the US, preparing them to be converted into data centers for AI workloads and HPC. The company's second-quarter report revealed this shift, citing a decline in revenue due to lower average Bitcoin prices and operational halts at some sites.

The organization sold 1085 BTC between April 1 and August 7 for $75 million, leaving it with 1861 BTC. Keel's total liquidity reached $819 million, with $698 million in cash and $121 million in company-owned coins.

Meanwhile, Bitdeer has continued to expand its mining operations, increasing revenue by 47% year-over-year to $228.8 million. The company mined 2694 BTC in the second quarter, nearly five times more than it did a year earlier.