Keel Infrastructure Reports $145 Million Q1 Net Loss Following Bitfarms Rebrand

According to its official statement, Keel Infrastructure Corp. reported a $145 million net loss for Q1 2026 as the company transitioned from bitcoin mining to artificial intelligence and high-performance computing infrastructure. The New York-based entity, which rebranded from Bitfarms Ltd. on April 1, completed its redomiciliation to the U.S. and strategic shift.

The net loss was driven by a $41 million non-cash loss from changes in the fair value of digital assets and a $22 million loss related to the extinguishment of its Macquarie credit facility. Operating loss reached $98 million, compared with $35 million in Q1 2025.