11.5
EH/s
21.0
J/TH
1,188
236
22.3
93%
310
Description
Keel Infrastructure Corp. is a North American digital infrastructure and energy company developing and owning data centers for high-performance computing (“HPC”) workloads, including AI, headquartered in New York City with asset footprints across Pennsylvania, Washington, and Quebec. The Company, transitioned from Bitfarms, leverages a multi-gigawatt power pipeline to support scalable hyperscaler computing.
1101 Brickell Avenue
Suite 1500
Miami, FL 33131
United States
647 259 1790
Sector(s): Technology
Industry: Software—Infrastructure
Full Time Employees: 250
All estimated data and analysis provided by Power Analysis
Chief Executive Officer & Director
Mr. Gagnon is a proven strategist and people-focused executive in the Bitcoin mining space. He contributes extensive experience successfully guiding companies through the evolving cryptocurrency landscape. His ability to efficiently implement aggressive growth plans provides a critical bridge between the Board and management team, maximizing effective oversight and shareholder value creation opportunities.
CPA, CFA – Chief Financial Officer
Jeffrey Lucas is the Chief Financial Officer of Keel Infrastructure, overseeing financial strategy, capital allocation, and growth initiatives. With over 30 years of international experience across technology, manufacturing, and financial services, he has a proven track record in corporate finance, M&A, and capital restructuring.
Before joining Keel Infrastructure in 2021, Jeffrey was Managing Director at Mackinac Partners, a national restructuring firm. He previously served as President and CFO of eMagin Corporation and held CFO and Board Director roles at Transfreight Group, GPX International Tire Corporation, Micro Networks Corporation and DS Waters of America. Earlier in his career, he worked in high-yield investment banking, institutional money management, and public accounting at PricewaterhouseCoopers.
Jeffrey holds a B.A. in Economics from Tufts University, an M.B.A. in Finance from Harvard Business School and studied at the London School of Economics. He is a Certified Public Accountant and a Chartered Financial Analyst.
Chief Operating Officer
Liam Wilson is an operations executive with over 20 years of leadership and operational management experience. As Chief Operating Officer at Keel Infrastructure, he oversees the company’s business initiatives and daily operations. With deep expertise in the energy sector, he has successfully executed transactions totaling more than 900 MW of power across key U.S. markets, driving the development and operation of high-performance teams and facilities.
Before joining Keel Infrastructure, Liam served as Chief Operating Officer at Mawson Infrastructure Group Inc., where he led all global business activities focusing on the US and PJM in particular. Liam has also held senior management roles at EVT Hospitality and Entertainment and The Whitehouse Group.
Cowansville, Canada
240 MWSt. Hyacinthe, Canada
240 MWMagog, Canada
240 MWFarnham, Canada
240 MWBunker, Canada
240 MWLeger, Canada
240 MWGarlock, Canada
240 MWBaie-Comeau, Canada
240 MWWashington, United States
240 MWVillarrica, Paraguay
240 MWPaso Pe, Paraguay (coming soon)
240 MWRio Cuarto, Argentina
240 MW
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Nov. 14, 2024 | 10:00AM EST | Power Mining Analysis
- CEO Ben Gagnon shares Keel Infrastructure' success in maximizing Bitcoin mined per exahash, positioning the company as a leader in the industry.
- Despite market volatility, operational improvements and team management have led to positive adjusted EBITDA, setting the stage for future growth.
- Keel Infrastructure deployed 83,000 T21 mining machines to enhance efficiency and strengthen global leadership.
- Challenges, such as faulty deliveries leading to zero hash rates, have prompted a shift toward diversifying the fleet with more efficient models to improve performance.
- Keel Infrastructure’ power contracts in regions like Paraguay and Pennsylvania are key to optimizing performance and maximizing margins.
- The company focuses on renewable energy and demand response programs to enhance energy efficiency.
- The potential impact of political shifts, including Donald Trump’s supportive stance on cryptocurrency, is explored as a possible benefit for the mining sector.
- Strategic planning is essential for adapting to regulatory changes and political landscapes.
- Keel Infrastructure is preparing for a potential Bitcoin bull market with advancements in energy efficiency and the development of a new 200-megawatt mining site in Paraguay.
- The new site will host state-of-the-art equipment to maximize utility and performance.
- Keel Infrastructure is adjusting its portfolio by focusing more on opportunities in the U.S., responding to market conditions and political changes.
- The decision to relocate miners to U.S. facilities reflects a strategic shift aimed at maximizing growth and investment opportunities.
Keel Infrastructure is in the midst of a transformative phase, pivoting towards a robust growth strategy in the US after selling its Paraguay facility to Hive. Their CEO, Ben Gagnon, discusses the implications this sale has for the company's future, emphasizing long-term planning, efficiency, and potential expansions into high-performance computing (HPC) and AI.
Feel free to visit our channel and let us know your thoughts about Keel Infrastructure and their planned direction!
We unpack Q3 results, explain IFRS versus operational reality, and walk through the strategy to pivot from Bitcoin mining to high‑margin HPC and AI infrastructure. We cover Washington’s build, the power pipeline, lease timing, and why patience can create more value than quick wins.