Keel Infrastructure Corp. (Nasdaq: KEEL), formerly known as Bitfarms, announced a net loss of $145 million for Q1 2026, with revenue dropping 23% year-over-year to $37 million. The loss was largely due to a $41 million non-cash impairment on digital assets and a $22 million write-off related to the Macquarie credit facility. The company has completed its transition from Bitcoin mining to AI infrastructure, including a U.S. reincorporation and rebranding in April. Keel exited the Latin American market and reduced its Bitcoin holdings, selling 269 BTC for $20 million. As of May 8, Keel's liquidity stood at $533 million, comprising $336 million in cash and $197 million in Bitcoin.