Keel Infrastructure’s Paraguay Sale Puts Former Bitfarms’ AI Data Center Bet on the Clock
Keel Infrastructure Corp. has wrapped up the sale of its 70-megawatt Paso Pe facility in Paraguay, pulling in around $13 million after adjustments—less than half of the original deal’s potential $30 million price tag. The move marks the former Bitfarms' full exit from Latin America, as it pivots harder toward AI-driven data-center infrastructure. A megawatt represents power capacity, essential for large-scale computing. The timeline's tight: Keel wrapped up its U.S. redomiciliation—a switch in its corporate legal base—on April 1, just a few weeks before the sale went through. Management frames both the move and the rebrand as steps away from Bitcoin mining, where computers earn and verify bitcoin, and toward high-performance computing, or HPC, which powers AI and other data-heavy tasks.