KEEL Stock Crosses $6 For First Time Since October – Just One Dollar Stands Between The Former Crypto Miner And 4-Year High

• Keel Infrastructure shares rose to their highest level since October, and were less than $1 away from hitting a four-year high in midday trade on Monday.
• Keel Infrastructure, formerly known as Bitfarms, rebranded in April to reflect its shift from Bitcoin mining toward AI and HPC infrastructure.
• Despite the strategic pivot, the company still holds approximately 2,469 Bitcoin on its balance sheet.

Shares of Keel Infrastructure (KEEL), formerly known as Bitfarms, rallied to a seven-month high in midday trade on Monday with retail traders speculating if a big hyperscaler deal announcement could be in the works. 

KEEL’s stock rallied nearly 7% to over $6, its highest level since October. A move above roughly $6.60 would put the shares at their strongest level in nearly four years.

The rally was fueled in part by growing speculation that Keel may be close to announcing a new customer. CEO Ben Gagnon said last week the company has spoken with 129 investors since its first-quarter earnings call. During that call, Keel outlined a goal of signing three hyperscale customers by year-end.

KEEL’s shares were among the top trending tickers on Stocktwits at the time of writing, with retail sentiment trending in the ‘extremely bullish’ zone over the past day. Chatter stayed at ‘high’ levels. 

Retail Traders Focus On Potential Hyperscaler Deal

Much of Monday’s discussion centered on the possibility that Keel could secure one or more agreements with major cloud-computing companies.

One retail trader on Stocktwits suggested management’s confidence in securing multiple leases this year could indicate interest from a large customer seeking capacity across several sites.

The speculation follows management commentary during the company’s first-quarter earnings call, where Chief Executive Officer Ben Gagnon outlined the company’s objective of signing three leases by the end of 2026.

“Our 2026 priority is clear: sign three leases by year-end, one at Panther Creek, one at Sharon and one at Moses Lake,” Gagnon said. Management also highlighted ongoing work across all three development sites, including permitting, engineering design, and customer engagement efforts.

According to Gagnon, the company is advancing architecture and engineering plans that align with prospective customer requirements while working to secure long-term leases with investment-grade tenants.

From Bitcoin Mining to AI Infrastructure

Keel Infrastructure formally rebranded from Bitfarms in April, in a shift away from dependence on Bitcoin (BTC) mining revenue like many of its peers.  The company is now positioning itself as a developer of infrastructure for artificial intelligence (AI) and high-performance computing (HPC) workloads.

Despite the shift in focus, Keel still maintains its exposure to digital assets. The company currently holds approximately 2,469 Bitcoin on its balance sheet.

Bitcoin’s price briefly dropped below $71,000 in midday trade on Monday after reports that Iran had suspended negotiations with the U.S. and threatened to fully block the Strait of Hormuz, triggering a surge in oil prices.

Read also: Trump Says 'Iran Really Wants To Make A Deal'— But BTC Is Still Down, Oil Is Still Up, And ETFs Are Still Bleeding

For updates and corrections, email newsroom[at]stocktwits[dot]com