Keel Infrastructure — the Nasdaq-listed miner formerly known as Bitfarms — has sold its ENTIRE Bitcoin treasury. 📉
In Q3, Keel sold 2,520 BTC for $192M — all 2,261 coins it held going into the quarter, plus 259 it mined. The sale booked a $32M realized loss, and by September 30 the treasury was effectively empty.
From now on, every coin mined at its remaining Quebec operations gets sold the same day. Keel is going all-in on AI data centers instead, with first HPC revenue expected in 2027 and ~$780M in cash to fund the build.
Q3 revenue fell 59% to $28M as US mining shut down.
Is the miner-to-AI pivot the future of mining? 👇
#Bitcoin #BTC #Bitfarms #Keel #CryptoNews #BitcoinMining #AI #DataCenters #Crypto #Zimbuck
In Q3, Keel sold 2,520 BTC for $192M — all 2,261 coins it held going into the quarter, plus 259 it mined. The sale booked a $32M realized loss, and by September 30 the treasury was effectively empty.
From now on, every coin mined at its remaining Quebec operations gets sold the same day. Keel is going all-in on AI data centers instead, with first HPC revenue expected in 2027 and ~$780M in cash to fund the build.
Q3 revenue fell 59% to $28M as US mining shut down.
Is the miner-to-AI pivot the future of mining? 👇
#Bitcoin #BTC #Bitfarms #Keel #CryptoNews #BitcoinMining #AI #DataCenters #Crypto #Zimbuck
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