Keel shuts US Bitcoin mining operations as Q2 revenue falls 50%

Written by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff editorWritten by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff editorKeel shuts US Bitcoin mining operations as Q2 revenue falls 50%Latest NewsPublishedAug 11, 2026Keel completed the shutdown of its US Bitcoin mining operations as it pivots toward AI and high-performance computing infrastructureKeel Infrastructure said it has decommissioned all US Bitcoin mining operations in preparation for high-performance computing (HPC) site construction, according to its second-quarter report published on Monday.The digital infrastructure company reported $30 million in revenue, down 50% year-on-year. The decrease was largely attributed to a decline in the average Bitcoin (BTC) price and the shutdown of its Moses Lake crypto mining operations in April 2026. The company also reported a $141 million operating loss, compared with operating income of $11 million in the same period last year. The loss included $84 million in non-cash depreciation.Multiple Bitcoin miners have expanded into AI infrastructure, but Keel is among the few to fully exit US Bitcoin mining as it shifts toward HPC. Other companies that halted mining operations to pivot to AI include Bit Digital and Crusoe.Keel held 1,861 BTC as of Friday after selling 1,085 BTC for $75 million since April 1 as part of its ongoing wind-down of its Bitcoin holdings. The company also reported about $819 million in liquidity, including $698 million in unrestricted cash.Keel’s stock price fell 12% on Monday, according to Yahoo Finance.Magazine: How Bitcoin mining heat is being tested to warm Canadian greenhouses Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Bitcoin MiningMiningA…

Keel shuts US Bitcoin mining operations as Q2 revenue falls 50%

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