Keel Infrastructure has completed the shutdown of all its US Bitcoin mining operations in the second quarter, reporting $30 million in revenue, down 50% year-on-year. The company posted an operating loss of $141 million, compared with operating income of $11 million in the same period last year, including $84 million in non-cash depreciation. This move is part of a strategic pivot toward high-performance computing and AI infrastructure. Keel sold 1,085 BTC for $75 million since April and held 1,861 BTC as of the end of the period, with total liquidity of $819 million including $698 million in unrestricted cash. The company’s stock fell 12% on Monday.
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