The company reported a $65 million net loss in Q2 after decommissioning mining operations and selling 1,085 BTC for $75 million.
Keel Infrastructure has ceased all U.S. Bitcoin mining operations, redirecting resources to AI and high-performance computing data centers. The move follows a 50% year-over-year drop in Q2 revenue to $30.4 million and a $65 million net loss.
The company sold 1,085 BTC for approximately $75 million between April 1 and August 7, bolstering liquidity to $819 million. The pivot reflects broader industry trends as firms seek higher-margin opportunities beyond cryptocurrency mining.
No immediate market reaction was disclosed in the announcement.