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Keel decommissions US Bitcoin mining as it pivots to HPC

Keel reported $30 million in Q2 revenue, down 50% year over year, alongside a $141 million operating loss.

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Keel Infrastructure has decommissioned all of its US Bitcoin mining operations as it prepares to build high-performance computing infrastructure, according to its second-quarter report published Monday, the outlet Cointelegraph reported.

The company said Q2 revenue fell to $30 million, down 50% year over year, with the decline attributed largely to a lower average Bitcoin price and the shutdown of its Moses Lake mining operations in April 2026.

Keel posted a $141 million operating loss, compared with operating income of $11 million in the prior year period, and the loss included $84 million in non-cash depreciation.

Cointelegraph also reported that Keel held 1,861 BTC as of Friday after selling 1,085 BTC for $75 million since April 1, and the company reported about $819 million in liquidity, including $698 million in unrestricted cash.

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