Keel Infrastructure Ends Bitcoin Mining, Pivots to AI Data Centers
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Keel Infrastructure (formerly Bitfarms) has shut down its remaining US Bitcoin mining operations and is converting sites into AI high-performance computing data centers, pursuing permits and new tenants. The pivot came after a 50% drop in revenue from exiting mining, though the company reported $819 million in liquidity as of Aug. 7 and says power access is the key constraint for the AI data center rollout.
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- Keel shuts down Bitcoin mining as it shifts its focus to AI data centers.
- The company is converting mining sites while seeking permits and new tenants.
- Keel’s revenue fell 50% as the company moved away from Bitcoin mining.
Keel Infrastructure has shut down its remaining US Bitcoin mining operations as the company shifts its focus to artificial intelligence infrastructure.
The former Bitfarms plans to convert its mining sites into data centers designed for high-performance computing. It is now focused on securing permits and attracting tenants for the facilities.
“Power is the constraint. Everything else is downstream of it,” CEO Ben Gagnon said, underscoring the importance of access to electricity as the company pursues the new strategy.
Keel had $819 million in liquidity as of Aug. 7.
Keel Prepares Sites for HPC
Keel has secured zoning approvals …
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