Keel Infrastructure Corp., formerly known as Bitfarms, said Monday in its latest quarterly earnings report that it had decommissioned all of its U.S. bitcoin mining operations as it prepares the sites for artificial intelligence and high-performance computing data centers.
The company also said it sold a large portion of its bitcoin as it continued to "wind down" its bitcoin position.
Keel (KEEL) said it sold 1,085 BTC for $75 million during the period starting April 1 and ending Aug. 7, leaving it with 1,861 BTC still on its balance sheet.
Like many other Bitcoin miners, Keel has been shifting its focus from mining in favor of becoming a supplier of high-performance computing and artificial intelligence infrastructure.
New York-based Keel became the parent company of Bitfarms Ltd. in April, which led to the rebranding.
