Keel Infrastructure signed a backup power agreement with PowerSecure on September 9. PowerSecure, a subsidiary of Southern Company, will provide a modular power system for Keel’s data center campus in Moses Lake, Washington. This scalable solution ensures operational reliability for high-performance computing (HPC) environments.
The deal advances Keel’s strategic transition from Bitcoin mining to artificial intelligence infrastructure. The company, formerly known as Bitfarms, has ceased all U.S. Bitcoin mining operations. Keel currently manages a 2.2-gigawatt power pipeline to support its expansion into the AI sector.
KEEL shares declined following the announcement, ending a four-day rally that increased the stock's value by approximately 20%. Analysts attributed the price drop to profit-taking and a broader market downturn.