Keel Infrastructure (KEEL) reported second-quarter 2026 revenue of $30 million, down 50% year over year, and a net loss of $65.0 million for the quarter ended June 30, 2026. Loss from continuing operations was $64 million, or $0.11 per basic and diluted share.
The company said it had approximately $819 million of liquidity as of Aug. 7, 2026, including about $698 million in unrestricted cash and about $121 million in unencumbered Bitcoin. Keel said site development remains on track across near-term sites and that it is in active negotiations at three sites.
- Revenue was $30.4 million for Q2 2026, compared with $60.9 million in Q2 2025.
- Operating loss was $140.8 million, including $84.1 million of depreciation and amortization.
- Adjusted EBITDA was negative $23.7 million, compared with $6.6 million in Q2 2025.
- Keel raised $458 million through a convertible note offering during the quarter.
- The company sold 1,085 Bitcoin for $75 million from April 1 through Aug. 7, leaving a balance of 1,861 BTC.
- Keel completed the decommissioning of all U.S. Bitcoin mining operations in preparation for HPC site construction.
$BITF Hedge Fund Activity
We have seen 55 institutional investors add shares of $BITF stock to their portfolio, and 137 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SITUATIONAL AWARENESS LP added 12,978,740 shares (+188.2%) to their portfolio in Q1 2026, for an estimated $25,308,543
- POINT72 ASSET MANAGEMENT, L.P. added 10,511,681 shares (+954.6%) to their portfolio in Q1 2026, for an estimated $20,497,777
- JANE STREET GROUP, LLC removed 8,054,571 shares (-27.9%) from their portfolio in Q1 2026, for an estimated $15,706,413
- VALUE ALIGNED RESEARCH ADVISORS, LLC added 7,815,121 shares (+inf%) to their portfolio in Q1 2026, for an estimated $15,239,485
- AZORA CAPITAL LP added 7,556,683 shares (+286.5%) to their portfolio in Q1 2026, for an estimated $14,735,531
- MONARCH ALTERNATIVE CAPITAL LP added 7,150,000 shares (+inf%) to their portfolio in Q1 2026, for an estimated $13,942,500
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 6,939,637 shares (-72.6%) from their portfolio in Q1 2026, for an estimated $13,532,292
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
