Keel Infrastructure, the rebranded successor to former bitcoin miner Bitfarms, reports a $145 million net loss for the first quarter as it transitions away from bitcoin mining toward building AI-focused infrastructure. Multiple outlets describe Keel’s shift in strategy under its new name and positioning, including plans to deploy capital toward AI infrastructure. Decrypt reports that the company highlights a $533 million funding “war chest” intended to support the AI buildout. The Block (crypto) similarly frames the quarterly results in the context of the company’s rebrand and ongoing transition, noting that the Q1 loss comes alongside the change in business direction. Together, the coverage indicates that Keel is in a restructuring phase: it is operating under a new corporate identity while it reorients its operations and investment priorities from cryptocurrency mining toward AI infrastructure development. The articles do not conflict on the headline figures cited, but they focus on different aspects—financial performance versus the scale of planned AI investment.