Keel Infrastructure Dumps Entire Bitcoin Treasury for $192M as Mining Exit Accelerates

Keel Infrastructure, formerly Bitfarms, sold its entire bitcoin treasury in the third quarter, offloading 2,520 BTC for $192 million in proceeds. The company is pivoting from mining into AI infrastructure as mining and AI-related stocks see a broader sell-off. A miner liquidating its full BTC stack adds sell-side pressure and signals eroding confidence in the mining business model, a caution flag for traders watching miner treasuries.