Keel Infrastructure sells 269 BTC this year, continues to reduce $197M position

Keel Infrastructure, formerly Bitfarms, announced first-quarter 2026 revenue of $37 million and a net loss of $128 million. The revenue figure represents a 23% decrease year-over-year, while the operating loss widened to $98 million, which includes a $41 million loss on its cryptocurrency holdings. The company has completed its strategic shift, which involved relocating from Canada to the U.S., changing its name, selling its Latin American mining assets, and pivoting to focus on developing high-performance computing (HPC) and artificial intelligence (AI) data centers. As of May 8, Keel holds approximately $533 million in liquidity, with about $197 million of that in Bitcoin. The company has sold 269 BTC for $20 million so far this year, continuing its previously stated plan to reduce its Bitcoin position.