Keel Infrastructure Stock Takes Hit Following Disappointing Q2 Results

Keel Infrastructure's (NASDAQ: KEEL) stock price plummeted by over 12% on Monday after the company reported its second-quarter results. This decline follows Keel's pivot into advanced data center operations, a strategy first announced in 2025.

The company's revenue fell 50% year-over-year to $30 million, primarily due to the significant slump in Bitcoin prices. This legacy business was jettisoned by Keel only recently.

Despite trimming operating expenses to just over $54 million, down from almost $69 million a year ago, the company's net loss deepened to almost $65 million ($0.11 per share) from the year-ago quarter's $59 million and change.