Keel Infrastructure posts $145M loss as it pivots from Bitcoin mining to AI
Crypto Briefing
Keel Infrastructure reported a $145 million loss while shifting its business focus from Bitcoin mining to AI data center infrastructure.Summary
Keel Infrastructure, formerly known as Bitfarms, announced a $145 million net loss for Q1 2026, driven largely by asset fair value adjustments and restructuring costs. Despite the decline in revenue, the company's stock rose 9% as it continues to transition away from Bitcoin mining toward developing AI data centers in the U.S. and Québec. With $533 million in total liquidity, including substantial cash and unencumbered Bitcoin holdings, the company is actively repurposing former mining sites to support its new 2.2 gigawatt AI-focused development pipeline.
(Source：Crypto Briefing)