Keel Infrastructure’s shift from crypto mining to AI infrastructure drives a 75% year-to-date gain as demand for energy capacity grows.
Keel Infrastructure (NASDAQ: KEEL) has climbed 75% year to date, nearing a $2.5 billion market capitalization, as investors bet on its pivot to AI infrastructure. The company, formerly a crypto miner, now focuses on high-energy-demand AI services, securing a 2.2-gigawatt pipeline.
Competitors like Iren (NASDAQ: IREN) and Cipher Mining (NASDAQ: CIFR) have seen similar gains, with market caps approaching $20 billion and $10 billion, respectively. Keel’s pipeline includes a 1.3-gigawatt site in Pennsylvania and four additional power-secured locations.
The stock’s rally reflects broader investor interest in crypto miners transitioning to AI, driven by the sector’s potential for recurring revenue from energy-intensive cloud services.