Keel Dumps US Bitcoin Mining After $65M Loss To Chase AI

Keel has officially pulled the plug on its United States Bitcoin mining operations. The bold move follows a tough second quarter where revenue tumbled by fifty percent, leaving the firm with a sixty five million dollar loss. To shore up its balance sheet, the company sold seventy five million dollars worth of Bitcoin.

Instead of letting its power sites sit idle, Keel is pivoting quickly. The company plans to redirect its energy infrastructure toward artificial intelligence data centers. High performance computing has become a major magnet for power capacity, and miners are increasingly switching sides to chase better margins.

Traders should watch how quickly traditional crypto firms can actually convert their heavy mining sites into profitable AI hubs. This shift highlights a growing trend where power is becoming more valuable than block rewards, and it could spark a broader industry trend as energy costs stay high.