Jim Cramer Spots Crypto Miner Turned AI Play Keel Infrastructure

Jim Cramer recently used his television show to direct investor attention toward Keel Infrastructure, a company that previously mined Bitcoin and now focuses on artificial intelligence data centers. He pointed to a growing stake from Situational Awareness LP as a major reason to watch the stock. Regulatory filings show the fund expanded its position by 188 percent in the first quarter of 2026, bringing its holdings to nearly 20 million shares.

Analysts are also weighing in on the transition. BTIG recently initiated coverage on the stock with a buy rating and an eight dollar price target, pointing to the company power portfolio as its core asset. Keel Infrastructure is the rebranded successor to Bitfarms, having completed its shift to an artificial intelligence infrastructure developer in April. The firm now controls a 2.2 gigawatt power pipeline across Pennsylvania, Washington, and Quebec.

Despite the bullish analyst outlook, the company still carries significant risks. Keel has a debt to equity ratio above 140 percent and negative free cash flow, and it has not yet landed its first major hyperscale colocation contract. Investors are watching closely to see if the power pipeline translates into signed deals before getting too comfortable with the recent stock gains.