Keel Infrastructure shares jump nearly 7%, within $1 of four-year high
KEEL•Keel Infrastructure shares rose nearly 7% to their highest level since October, placing them within $1 of a four-year high. The April rebrand from Bitfarms underscores Keel’s pivot to AI and HPC infrastructure, while it retains approximately 2,469 Bitcoin on its balance sheet.
1. Stock Performance
Keel Infrastructure shares rallied nearly 7% in midday trade, climbing above $6 for the first time since October. The move leaves the stock within $1 of its highest level in almost four years, driven by heightened retail interest and speculation around potential new contracts.
2. Rebrand and Strategic Pivot
In April, the company formally rebranded from Bitfarms to Keel Infrastructure to reflect its strategic shift from Bitcoin mining toward developing artificial intelligence and high-performance computing infrastructure. This repositioning aims to capitalize on growing demand for AI data-center capacity.
3. Bitcoin Holdings and Financial Position
Despite the pivot, Keel maintains a significant digital-asset holding, with approximately 2,469 Bitcoin on its balance sheet. This exposure provides potential upside from future Bitcoin price appreciation while the company builds its AI and HPC business.
4. Hyperscale Lease Speculation
Speculation intensified that Keel is close to signing a major hyperscale customer after CEO Ben Gagnon disclosed having spoken with 129 investors since the first-quarter call. Management’s goal remains to secure three hyperscale leases by year-end at Panther Creek, Sharon and Moses Lake, with architecture and engineering plans advancing at all sites.
