Northland Securities lowered its Q3 2026 earnings per share estimates for Keel Infrastructure Corp. Analysts now project a loss of $0.09 per share, down from the previous $0.06 loss estimate. This revision follows Keel’s August 10th Q2 earnings report detailing a strategic shift.
The company is decommissioning all U.S. Bitcoin mining operations to focus on high-performance computing (HPC) infrastructure. Second-quarter revenue fell 50% year-over-year to $30 million. The transition also resulted in a significant operating loss.
Keel maintains a liquidity position of approximately $819 million to fund its new strategy. Management continues to prioritize the construction of HPC sites over its legacy mining business.