NEW YORK, June 21, 2026, 13:04 EDT
- Keel’s shares on Nasdaq ended at $6.29 on June 18, rising 5.36%. U.S. markets were closed June 19 for Juneteenth and stayed shuttered over the weekend.
- Toronto-listed shares ended the day at C$9.93 on June 19, jumping 12.33% as traders watched the stock, the old Bitfarms name, after a strong run in AI infrastructure.
- Alliance Global Partners is set for a fireside chat June 22, Northland comes up June 23, and Citizens is on the calendar June 25.
Keel Infrastructure Corp. is set to open Monday trading with its U.S. shares close to their recent top. During last week’s abbreviated session, buyers continued to back the company’s move out of bitcoin mining and into AI data-center infrastructure.
The trade has shifted past just a rebrand, and that’s key. Keel needs to show it can turn access to power, sites, and grid into actual data-center lease deals — those longer-term rental contracts for compute space — instead of just talking up AI demand.
Keel shares finished at $6.29 on the Nasdaq on June 18, adding 32 cents, or 5.36%, for a market cap of around $3.79 billion. According to FXEmpire, the stock gained 13.95% for the week and jumped 50.48% over the past month.
U.S. markets were shut June 19 for Juneteenth. According to Nasdaq’s 2026 calendar, markets stay closed for Juneteenth and on weekends. Standard hours are Monday through Friday, 9:30 a.m. to 4 p.m. ET.
Keel traded in Canada on Friday. Shares on the TSX finished at C$9.93, up C$1.09. The stock moved between C$8.70 and C$10.81 during the day, according to Investing.com data.
This week’s trading came after Keel closed $458 million in 1.250% convertible senior notes due 2032 on June 9. These are bonds that can be turned into stock at certain terms. Keel said the conversion price starts at about $7.41 a share, or a 25% premium to the Nasdaq sale price on June 4. Some proceeds paid for capped calls, which are options designed to limit dilution if shares climb to an agreed price.
Keel said current liquidity should cover Panther Creek, Sharon and Moses Lake by leasing. The leftover note money could go to equipment deposits or support letters of credit—bank payment guarantees. That’s the core of the bull case: cash on hand ahead of any major tenant deal, not after.
Keel Infrastructure calls itself a New York-based owner and developer of data centers and energy projects for high-performance computing, or HPC. HPC is used for AI and tough computing jobs. The company says its pipeline totals 2.2 gigawatts. Shares trade under the KEEL ticker on the Nasdaq and TSX.
Chief Executive Ben Gagnon called the rebrand a departure from Bitfarms’ former identity. He said Keel is “a pure-play infrastructure developer and owner” aiming to let customers “deploy AI compute at the pace and scale they need.” Chief Financial Officer Jonathan Mir said liquidity lets Keel keep “developing at the speed our customers require.” Keel Infrastructure
Peer context around Keel is unsettled. In late April, Chardan’s Bill Papanastasiou started coverage on Galaxy Digital, Keel and Riot Platforms with Buy ratings, connecting them to the move from bitcoin mining into high-performance computing and data-center leasing. Keel still has to prove it fits with the infrastructure names, and not only in the more volatile crypto-miners set.
Downside risks are clear: lease deals might get delayed, build costs may jump, or future debt conversions could weigh on holders. Keel’s Q1 revenue dropped to $37 million, down from $47.7 million year over year. Loss from continuing ops widened to $127.6 million, and adjusted EBITDA was negative $16.7 million. Filings show the HPC unit still hadn’t brought in revenue by end of 2025.
Management gets another shot this week to tighten the message. Keel flagged a June 22 Alliance Global Partners fireside at 10 a.m. EDT, plus appearances at the June 23 Northland Growth Conference and June 25 Citizens Digital Infrastructure Forum. There’s no set earnings date yet, so investors may tune in for updates on tenants, build schedules, or capital plans.
Related articles: NASDAQ:KEEL
