Latest revenue
$37.0M
as of 2026-03-31
Latest net income
$-145.4M
as of 2026-03-31
Net margin
-392.9%
as of 2026-03-31
Community sentiment
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KEEL vs S&P 500 · rebased to 100
Background shading marks the US business-cycle phase at each point in time — early, mid and late expansion, then recession— so you can see which economic backdrop each move happened in. Recessions are NBER-official; expansion sub-phases are ActaClear's editorial dating.
Live market
as of Jun 29, 2026- Market cap
- $3.62B
- Enterprise value
- $3.84B
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- 8.64×
- Dividend yield
- 0.0%
- 52-wk high
- $7.37
- 52-wk low
- $2.00
- Beta
- —
- Shares out
- 603.8M
What this company does
Keel Infrastructure (formerly Bitfarms) develops and operates power-equipped data centers across Pennsylvania, Washington, and Québec, targeting high-performance computing and AI workloads. Today, nearly all revenue comes from legacy Bitcoin mining, with one mining pool generating 88% of 2025 revenue paid daily in Bitcoin. The company is pivoting its 2.2 GW power pipeline from mining to leasing HPC capacity to hyperscalers under long-term contracts, with first data center revenue expected in 2027.
Generated from KEEL's filing dated 2026-03-31
Key risks
- Customer concentration: one Mining Pool operator generated 88% of 2025 revenue; HPC pivot has zero revenue until expected 2027.
- Execution risk: 1,513 MW of 2.2 GW pipeline is unbuilt; $520M liquidity only funds Washington, Sharon, Panther Creek through permitting/leasing.
- Strategic transition: legacy Bitcoin Mining (113,649 ASICs, 14.8 EH/s) will wind down before HPC leases signed, creating cash-flow gap.
Generated from KEEL's filing dated 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Finance Services (128 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 28, 2026.