Keel Shuts Down US Mining Operations, Eyes AI Infrastructure Deals

Keel Infrastructure Corp., a leading Bitcoin miner listed on NASDAQ and TSX under the ticker KEEL, has completed shutting down all its US-based mining operations. The company announced this move in its second-quarter earnings report for 2026, citing a significant decline in revenue, which fell by 50% year-over-year to $30.4 million.

The shutdown of Keel's US mining sites is part of the company's broader strategy to transition into high-performance computing (HPC) and AI infrastructure builds. This decision was likely influenced by the increasing demand for AI contracts, which often pay more per megawatt than block rewards currently do.

Keel still needs tenants for its cleared sites, including Panther Creek and Sharon in Pennsylvania, as well as Moses Lake, which has received its first Vertiv power modules. The company has a conditional deal with Hydro-Sherbrooke in Quebec for 96 megawatts toward a fourth data center.