Former Bitcoin Mining Stock Soars 10% on AI Data Center Expectations

KEEL Infrastructure Corporation (KEEL), a U.S. digital infrastructure company, closed at $4.67 on the Nasdaq, up 10.64%. Trading volume topped 26.18 million shares, and its market capitalization rose by about $340 million—to roughly $2.8 billion (around ₩4 trillion)—in a single session.

On May 11, the company reported first-quarter results, announcing the completion of its U.S. relisting and rebranding, as well as the sale of its Latin American assets. It also said it is advancing permitting and development at data-center sites in Pennsylvania, Washington State, and Quebec. Following a late-April update, KEEL took part in the Needham Technology, Media & Consumer Conference in New York on May 12, where it laid out its AI and high-performance-computing infrastructure strategy for investors.

Headquartered in New York, KEEL Infrastructure Corporation is a North American digital-infrastructure and energy company that develops and owns data centers and power infrastructure for AI and HPC, with a pipeline totaling 2.2 GW. Formerly known as Canadian bitcoin miner Bitfarms—which relocated to the U.S. and rebranded—the company is shifting from bitcoin mining to AI data-center infrastructure.