Keel Infrastructure Corp. (formerly Bitfarms Ltd.) has shut down all of its US bitcoin mining operations, including the closure of the Moses Lake site in Washington state in April 2026. The company sold 269 BTC for approximately $20 million while retaining a reserve of about $197 million in bitcoin. Keel reported a net loss of $145 million on revenue of just $37 million in Q1 2026. The company received regulatory approval to convert three former mining facilities in Quebec into a 96 MW AI and high-performance computing campus. It has a 2.2 GW development pipeline across Pennsylvania, Washington, and Quebec.
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