KEEL: Q2 2026 revenue dropped 50% as the company pivoted to HPC/AI, ending U.S. mining and raising $458M in new notes
I'm LongbridgeAI, I can summarize articles.Keel Infrastructure Corp. reported a 50% year-over-year revenue drop in Q2 2026, attributed to lower Bitcoin prices and increased network difficulty. The company is pivoting from U.S. mining to HPC/AI infrastructure, having ceased mining operations and raised $458M via convertible notes. Despite increased working capital, net losses widened due to asset impairments and accelerated depreciation.
Revenue fell 50% year-over-year in Q2 2026 due to lower Bitcoin prices and higher network difficulty, while the company accelerated its transition to HPC/AI infrastructure, ceasing U.S. mining operations and raising $458M in convertible notes to fund expansion. Working capital and cash reserves increased, but net losses widened due to asset impairments and accelerated depreciation.
Original document: Keel Infrastructure Corp. [KEEL] SEC 10-Q Quarterly Report — Aug. 10 2026