A move toward AI data center infrastructure has left Keel Infrastructure Corp. with a nominal Bitcoin (BTC) balance after a third-quarter sale of 2,520 coins for $192.2 million.
The sale comprised 2,261 coins Keel held as of June 30 and 259 mined during the quarter. By Sept. 30, its Bitcoin holdings were nominal.
Keel expects to sell most newly mined Bitcoin as part of its operating plan. It expects the proceeds to help meet liquidity needs, fund operations and finance expansion.
The company stopped mining at its U.S. locations in the second quarter, while mining continues in Québec. Regulators must approve any shift of its Québec sites from mining to data-center use.
