NASDAQ$KEEL
Keel Infrastructure Corp · Q1 2026 earnings
Q1 2026 earnings · · Investor relations
Briefing
Keel Infrastructure (KEEL) reported Q1 2026 revenue of $37.0M with a net loss of $145.4M ($0.24 per share).
Keel (formerly Bitfarms) reported $37.0 million revenue but a $145.4 million net loss on digital-asset fair-value losses, debt extinguishment, and discontinued mining operations.
- Revenue $37.0M; net loss $145.4M ($0.24 per share) on fair-value and restructuring.
- Transition from bitcoin mining to infrastructure/data-center focus.
- Digital-asset fair-value losses and debt extinguishment charges.
- Discontinued mining operations reflected in results.
- Balance sheet and liquidity priorities in MD&A.
Headline financials
Revenue & EPS history
Bitfarms · Revenue · Quarterly
$37M
Forward guidance
Keel (Bitfarms rebrand) outlook tied to infrastructure pivot and crypto marks; no traditional EPS guidance.
Tailwinds
- Strategic pivot toward data-center and power assets.
- Revenue base while restructuring.
Headwinds
- Large GAAP losses from fair-value and one-time items.
- Bitcoin price and crypto regulatory risk.
- Execution risk on infrastructure transition.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
-3.6%
Avg return
Earnings day
-5.1%
Avg return
5 days after
+2.7%
Avg return
30 days after
25%
6 / 24 earnings
Positive
+13.4%
Q4 2021
Best reaction
-21.6%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.8% | +10.3% | +31.7% | |
| Q4 2025 | -6.4% | -4.0% | +21.2% | |
| Q3 2025 | -18.0% | -13.2% | -13.6% | |
| Q1 2025 | -3.6% | +2.8% | -23.0% | |
| Q3 2024 | -21.6% | -19.7% | -28.3% | |
| Q1 2024 | +9.3% | +1.2% | +40.5% | |
| Q4 2023 | +1.1% | -11.4% | -21.2% | |
| Q3 2023 | -3.4% | +3.4% | +84.5% | |
| Q2 2023 | +0.0% | +3.3% | -19.0% | |
| Q1 2023 | +8.2% | +15.3% | +20.4% | |
| Q4 2022 | +0.5% | +0.9% | +17.0% | |
| Q3 2022 | -12.0% | -23.7% | -38.5% | |
| Q2 2022 | +0.0% | -25.0% | -37.0% | |
| Q1 2022 | -1.0% | -10.3% | -29.6% | |
| Q4 2021 | +13.4% | +1.9% | -23.3% | |
| Q3 2021 | -1.7% | -4.7% | -39.3% | |
| Q2 2021 | -19.9% | -13.0% | -19.0% | |
| Q1 2021 | -0.6% | +4.1% | +7.0% | |
| Q4 2020 | -12.3% | -9.8% | +26.5% | |
| Q3 2020 | -5.9% | -10.6% | +44.3% | |
| Q2 2020 | -0.4% | -0.4% | +21.6% | |
| Q1 2020 | -12.7% | -12.7% | +29.0% | |
| Q4 2019 | -3.0% | -3.0% | +29.9% | |
| Q3 2019 | -3.3% | -3.3% | -16.6% | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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