Keel Infrastructure (KEEL) Stock Misses Q2 Revenue as HPC Pivot Takes Shape

TLDR

• Q2 revenue came in at $30.4M, down 50% year-over-year and missed the $33.42M consensus estimate
• Operating loss hit $141M, swinging from operating income of $11M in Q2 2025
• Adjusted EBITDA from continuing operations was negative $24M, down from positive $7M a year ago
• Keel holds $819M in total liquidity, including $698M in unrestricted cash and $121M in Bitcoin
• All three priority HPC sites are nearing full permitting, with multiple tenants in active negotiations at each

Keel Infrastructure (KEEL) reported Q2 2026 results on August 10, with revenue of $30.4 million falling short of Wall Street’s $33.42 million estimate. The stock was up 1.57% following the release.

Revenue dropped 50% year-over-year, driven by the wind-down of Bitcoin mining operations and a decline in average Bitcoin prices. The company shut down its Moses Lake cryptocurrency mining operations in April 2026 as part of a broader strategic shift toward high-performance computing infrastructure.

… Continue reading the full article at the original source below.