---
title: "KEEL: Q2 2026 revenue dropped 50% as the company pivoted to HPC/AI, ending U.S. mining and raising $458M in new notes"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295402591.md"
description: "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."
datetime: "2026-08-10T11:53:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295402591.md)
  - [en](https://longbridge.com/en/news/295402591.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295402591.md)
generator: "portal-rs"
---

# KEEL: Q2 2026 revenue dropped 50% as the company pivoted to HPC/AI, ending U.S. mining and raising $458M in new notes

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

**Disclaimer**

This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**