Keel Infrastructure Sells 70 MW Paraguay Site for $13 Million, Refocusing on HPC/AI
Keel Infrastructure sold its 70 MW Paso Pe site in Paraguay for $13 million, down from an agreed price up to $30 million due to weakened Bitcoin mining economics. Proceeds will fund its North American HPC/AI pipeline as it exits Latin America to concentrate on high-performance computing growth.
1. Sale of Paso Pe Site
Keel Infrastructure has closed the sale of its 70 MW Paso Pe, Paraguay site for approximately $13 million after customary closing adjustments, reflecting a reduction from the originally agreed price of up to $30 million due to deteriorated Bitcoin mining economics and broader macro factors.
2. Exit from Latin America
With this divestiture, the company now holds a 100% North American portfolio and has eliminated all Latin American exposure and non-core assets to manage or divest, marking a strategic focus on core markets.
3. Reinvestment into HPC/AI
Management plans to allocate the proceeds toward developing its high-performance computing and AI infrastructure pipeline across Pennsylvania, Washington and Québec, leveraging its 2.2 gigawatt development pipeline to capture stronger returns and drive shareholder value.