Keel Infrastructure Reports $145 Million Net Loss in Q1 2026 Amid Revenue Decline

Keel Infrastructure has reported a net loss of $145 million for the first quarter of 2026, with revenue dropping 23% year over year to approximately $37 million. According to NS3.AI, the company, formerly known as a Bitcoin miner, has completed its rebranding and redomiciliation to the United States, becoming the parent company of Bitfarms as of April 1. Keel Infrastructure stated that it has around $533 million in liquidity, which is expected to support its three priority AI/HPC sites through lease execution in 2026.