BTIG Research upgraded Keel Infrastructure, formerly known as Bitfarms, to a strong-buy rating.
The firm also initiated coverage with a buy rating and an $8 price target, implying significant upside.
Analysts cited the company’s strategic transition from Bitcoin mining to AI data center development.
The report identified Keel’s existing power portfolio as a critical asset for this pivot.
CNBC’s Jim Cramer highlighted the stock following recent regulatory filings.
Situational Awareness LP increased its stake in Keel by 188% during the first quarter.
The hedge fund, managed by AI researcher Leopold Aschenbrenner, now holds nearly 20 million shares.
This accumulation signals strong institutional conviction in the company’s new AI-focused direction.