Overview
- Keel Infrastructure, which reported first‑quarter results Monday, posted $37 million in revenue and a $145.4 million net loss.
- The deficit reflected non‑cash hits from a $41.4 million drop in crypto valuations and a $21.6 million charge to retire a credit line.
- Liquidity totaled about $533 million as of May 8, and management said that covers lease execution at three priority sites and basic costs through 2028.
- The former Bitfarms completed its U.S. redomicile and rebrand and is pivoting to AI and high‑performance computing campuses, with zoning in place at Panther Creek, Sharon, and Moses Lake and a goal to sign leases this year.
- Shares fell about 9% in premarket trading then closed up roughly 8% Monday, signaling focus on the data‑center plan despite weak results.