Keel Shutters All US Bitcoin Mining, Sells $75M in BTC as AI Pivot Accelerates
KEEL has more than doubled off its 52-week low of $1.17.
Summary
Keel Infrastructure has fully decommissioned its US bitcoin mining operations, marking a definitive exit from mining as it converts sites to AI/HPC data centers. The company sold 1,085 BTC for $75 million between April and August, retaining 1,861 BTC. This follows the Q2 2026 earnings report showing a $64 million net loss and 50% revenue decline to $30 million, driven by lower bitcoin prices and the Moses Lake shutdown. Shares fell over 11% on the news. The complete mining wind-down and bitcoin liquidation signal an irreversible pivot to AI infrastructure, with management citing $819 million in liquidity and nearing full permitting at three priority sites. The scale of the operational shift and immediate market reaction make this a material event for traders.
At the time of this announcement, KEEL was trading at $3.45 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $1.17 to $7.37. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: The Block.