Keel Infrastructure, formerly known as Bitfarms, received conditional approval from the Sherbrooke city council for a land sale. This transaction supports the development of a C$1.8 billion AI and high-performance computing (HPC) data center.
The project marks a strategic pivot for the company from cryptocurrency mining toward AI infrastructure. Keel plans to leverage its experience in operating large-scale, power-intensive facilities.
The development will consolidate and expand the company's existing 96 MW hydroelectric power capacity in Sherbrooke. This expansion targets the growing global demand for AI-driven computing power.
Finalization of the sale remains contingent on further municipal reviews and approvals. This initial green light represents a critical milestone for the infrastructure project.