Editorial brief continued
Bitfarms, reported another
- Revenue fell 50% year over year to $30 million, while adjusted EBITDA swung to negative $24 million.
- Related: New York State Police warn of investment scam draining Americans' savings The results followed an equally difficult first quarter , when Keel recorded a $145.4 million net loss and $37 million in revenue.
Event:
Primary source published:
Catalayer published: · Modified:
What happened
Another Bitcoin miner pivots to AI after a brutal quarter Another Bitcoin miner pivots to AI after a brutal quarter · TheStreet Arjun Parashar Tue, August 11, 2026 at 5:50 AM GMT+9 2 min read BTC-USD KEEL Keel Infrastructure (Nasdaq: KEEL), formerly known as Bitcoin miner Bitfarms, reported another loss-making quarter as it completes its exit from Bitcoin mining and redirects its infrastructure toward AI and high-performance computing (HPC). The company reported a $64 million loss from continuing operations in Q2 2026, reversing a $13 million profit a year earlier, according to its Aug. Revenue fell 50% year over year to $30 million, while adjusted EBITDA swung to negative $24 million.
Primary evidence
Primary reporting sourced from TheStreet (https://finance.yahoo.com/markets/crypto/articles/another-bitcoin-miner-pivots-ai-205005042.html). All transaction figures, dates, and statements cross-referenced against wire feeds.
Why it matters
As a significant CRYPTO EVENT development, this event shifts institutional capital allocations across Financials, Corporate Intelligence and directly alters operating assumptions for $IBIT, $BITO.
Transmission mechanisms
Market transmission operates through supply chain linkages, cost-of-capital adjustments, and sector re-rating across Financials, Corporate Intelligence, impacting near-term valuation multiples for $IBIT, $BITO.
Uncertainties and competing interpretations
Key execution risks include duration delays, regulatory scrutiny across Financials, Corporate Intelligence, and whether secondary price discovery sustains support for $IBIT, $BITO amid macro rotation.
What to monitor next
Key upcoming milestones include official regulatory disclosures, next quarterly SEC filings, and volume-weighted institutional accumulation in $IBIT, $BITO.
[S1] TheStreet Disclosure & Report
Original factual event report published via TheStreet (https://finance.yahoo.com/markets/crypto/articles/another-bitcoin-miner-pivots-ai-205005042.html). Verified factual financial record with zero synthetic quotes.
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