Keel Infrastructure Reports Second Quarter 2026 Results
Keel Infrastructure reported Q2 revenue of $30 million, down 50% year-over-year, as it executes its wind-down of legacy Bitcoin mining operations. The company posted an operating loss of $141 million, driven by the closure of U.S. mining facilities and a decline in average Bitcoin prices. To fund its strategic pivot to high-performance computing (HPC) infrastructure, the company raised $458 million through a convertible note offering.
Key figures
- Revenue
- 30000000
- Revenue Yoy
- -50%
- Liquidity
- 819000000
- Bitcoin balance
- 1861
- Unrestricted cash
- 698000000
- Convertible proceeds
- 458000000
- Unencumbered bitcoin
- 121000000
- Bitcoin sold proceeds
- 75000000
- Hydro sherbrooke capacity mw
- 96
AI analysis
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