Crypto
Keel Suffers Q2 Losses as It Transitions Away from Bitcoin Mining
Keel Q2 2026 earnings highlighted significant losses due to its transition from mining to AI and high-performance computing data center infrastructure.
The company's revenue declined by 50.8% year-over-year to $30 million as it completed the decommissioning of all U.S. Bitcoin mining operations.
Despite posting a loss, Keel emphasized its strengthened balance sheet with $819 million in liquidity and secured power capacity for nearly 850 megawatts of potential data center development.