ME News reports that on May 12 (UTC+8), Nasdaq-listed Bitcoin mining company Keel Infrastructure released its first-quarter financial results. Revenue amounted to $37 million, a 23% year-over-year decline; operating loss was $98 million; net loss from continuing operations was $128 million ($0.21 loss per share); adjusted EBITDA was -$17 million, or -45% of revenue, down from $7 million (14% of revenue) in the first quarter of 2025. As of May 8, 2026, the company’s total liquidity stood at approximately $533 million, including $336 million in cash and $197 million in unpledged Bitcoin, sufficient to fund development of core projects including Panther Creek, Sharon, and Moses Lake through lease execution and the initiation of construction at Moses Lake, as well as to cover management expenses through 2028. (Source: Foresight News)
Keel Infrastructure Q1 2026 Revenue Falls 23% to $37M Amid $98M Operating Loss
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Summary
Keel Infrastructure's Q1 2026 revenue declined 23% to $37 million, with an operating loss of $98 million. Net loss from continuing operations was $128 million, or 21 cents per share. Adjusted EBITDA reached -$17 million, or -45% of revenue. The company reported $533 million in liquidity, including $336 million in cash and $197 million in uncollateralized Bitcoin. Investors are monitoring altcoins for potential opportunities amid changing market conditions.
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