Keel Infrastructure Surges as Aschenbrenner's Stake Gains Millions

Leopold Aschenbrenner, a former OpenAI researcher and young billionaire, revealed a significant stake in Keel Infrastructure (NASDAQ: KEEL), formerly Bitfarms, worth approximately $151 million on August 14. The company's stock price has surged 7.72% over the past day, adding around $148 million to its market capitalization.

The rapid increase in share value is attributed to recent developments surrounding Keel's proposed 96-megawatt data centre project in Sherbrooke, Quebec, Canada. The city officials have outlined a potential timeline for approval and an alternative plan that would allow Keel subsidiary Backbone Hosting Solutions to convert its existing Bitcoin (BTC) mining sites into data centres.

Ben Gagnon, CEO of Keel Infrastructure, stated on X that the company has met with 129 investors since their Q1 earnings call in May, which is a significant increase from the previous year. The prospect of the project already appears to be supporting share prices, making Keel one of Aschenbrenner's top-performing stocks so far this month.