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

Keel completed the shutdown of its US Bitcoin mining operations as it pivots toward AI and high-performance computing infrastructure

Keel 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-over-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.

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