Keel Infrastructure posts $145 million net loss in Q1 as legacy mining business shrinks
Key takeaways
- The company, formerly known as Bitfarms, said it held about $533 million of liquidity as of May 8.
- Over the quarter, Keel completed its rebrand from Bitfarms, redomiciled to the United States, and exited Latin America after closing the sale of its 70 MW Paso Pe site in Paraguay.
- Shares of KEEL traded down 8.8% on the news in pre-market hours, trading hands at $3.62.
Keel Infrastructure posts $145 million net loss in Q1 as legacy mining business shrinks Blockspace Staff Mon, May 11, 2026 at 8:20 PM GMT+7 2 min read KEEL Keel Infrastructure (NASDAQ: KEEL) reported first-quarter 2026 results on Monday, posting revenue of $37 million, down 22% year over year, and a net loss of $145.4 million, compared with a $55.6 million loss in Q1 2025. The company, formerly known as Bitfarms, said it held about $533 million of liquidity as of May 8.
Over the quarter, Keel completed its rebrand from Bitfarms, redomiciled to the United States, and exited Latin America after closing the sale of its 70 MW Paso Pe site in Paraguay.
Shares of KEEL traded down 8.8% on the news in pre-market hours, trading hands at $3.62. However, the stock is up 28.48% over the past 5 days, per Yahoo Finance data.