Keel Shuts Down US Bitcoin Mining to Focus on AI

Bitcoin miner Keel has decided to pull the plug on its US mining sites. The company is completely shifting its business model away from cryptocurrency mining. Instead, management wants to turn the company into a major supplier of artificial intelligence infrastructure.

This move puts Keel in line with several other crypto miners making the same jump. High energy costs and heavy competition in bitcoin mining have made artificial intelligence data centers a very attractive alternative for power and facility resources.

Traders and industry watchers should monitor how fast Keel can convert its existing facilities to support artificial intelligence workloads. The success of this pivot could set a trend for other miners looking to escape tight mining margins.