News linked to both this project and an event.
According to Cryptopolitan, Bitcoin mining company Keel Infrastructure (formerly Bitfarms) released its Q2 2026 financial report this Monday, disclosing that the company has completed the shutdown of all its US Bitcoin mining farms, and sold 1,085 BTC between April 1 and August 7, cashing out approximately $75 million, and currently still holds 1,861 BTC on its balance sheet, valued at approximately $121 million. Financially, Keel's Q2 revenue was $30 million, down 50% year-over-year, mainly dragged down by weak Bitcoin prices and the shutdown of the Moses Lake mining farm; operating loss reached $141 million (including $84 million in non-cash depreciation), net loss from continuing operations was $64 million, and adjusted EBITDA was negative $24 million. Following the announcement, KEEL stock price fell more than 11% in a single day. In terms of strategic transformation, Keel is converting its core sites in Pennsylvania, Washington State, and Quebec into high-performance computing data centers; currently, permitting approvals for the three priority sites are nearly complete, and negotiations with potential tenants are underway. The company's current liquidity is approximately $819 million, including $698 million in unrestricted cash and $121 million in Bitcoin, and during the quarter, it also raised $458 million through convertible notes.
According to GlobeNewswire, Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) announced plans to raise $400 million through the issuance of convertible senior notes. The offering is expected to close around June 9, 2026, subject to market and other closing conditions. Proceeds will be used to pay related capped call transaction costs and for general corporate purposes, including long-term equipment deposits and credit guarantees for data center construction. If the underwriters exercise their over-allotment option, a portion of the net proceeds will be allocated to additional capped call transactions, with the remainder used for general corporate purposes.
Odaily News Keel Infrastructure and Hive Digital Technologies saw their stock prices rise on April 22. Keel completed the sale of its Paso Pe mining facility in Paraguay, securing $13 million in funds, with the aim of fully exiting the Bitcoin mining business and shifting its focus to high-performance computing and AI development in North America. Hive Digital Technologies completed a $115 million private placement, with the funds to be used for purchasing GPUs and developing data centers. The stock prices of the two companies have risen by over 40% and 31% respectively in the past month. Additionally, Core Scientific announced plans to issue $3.3 billion in high-yield bonds to fund its transition to AI infrastructure.