KEEL on Nasdaq
Keel Infrastructure Corp.
Keel Infrastructure Corp. is an American finance services company based in Toronto, incorporated in Delaware.2
Price unavailable
Last updated Oct 21, 2026.
Overview
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- TickerKEEL on Nasdaq2
- IndustryFinance Services2
- HeadquartersNew York, United States2
- Incorporated inDE3
- Business address120 Broadway, Suite 1075, New York, Ny 100043
- Filer categoryAccelerated filer3
- Legal formCorporation2
- LEI254900KSNSVR2IGS8P832
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O COGENCY GLOBAL INC., 19904 Dover, United States2
- Registered withDivision of Corporations, Department of State, 104979592
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Infrastructure Assets to support HPC data center operations and expect to continue such development in the coming years.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Cryptocurrency Mining brought in 90% of the revenue Keel Infrastructure Corp. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cryptocurrency Mining | $115.3M | $128.2M | $206.2M |
| Energy Sales | $14.0M | ||
| Electrical Services | $5.1M | $5.1M | $4.6M |
| Cryptocurrency Hosting | $4.5M |
Regions
United States brought in 51% of the revenue Keel Infrastructure Corp. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $11.5M | $16.5M | $116.4M |
| CA [member] | $108.9M | $116.8M | $112.9M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue100¢$248.2M
- Income tax0¢$101.0K
Out of $229.3M in revenue.6 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $229.3M | $133.3M | $120.4M |
| Cost of revenues | -$248.2M | -$149.2M | -$144.1M |
| Gross loss | -$18.9M | -$15.9M | -$23.7M |
| General and administrative expenses | -$78.3M | -$61.9M | -$33.9M |
| Change in fair value of digital assets | -$50.5M | $26.0M | $7.6M |
| Realized gain on sale of digital assets | $28.2M | $27.2M | $7.7M |
| (Loss) gain on disposition of property, plant and equipment and deposits | -$1.6M | $227.0K | -$2.1M |
| Impairment of long-lived assets and deposits | -$28.4M | -$3.6M | -$5.6M |
| Operating loss | -$149.6M | -$28.0M | -$50.0M |
| Interest income | $6.3M | $6.0M | $1.4M |
| Interest expense | -$8.6M | -$745.0K | -$2.9M |
| (Loss) gain on derivative assets and liabilities | -$50.4M | $17.8M | $48.0K |
| Gain on extinguishment of long-term debt | $12.8M | ||
| Other expense | -$6.1M | -$2.1M | -$1.5M |
| Total other (expense) income | -$58.8M | $21.0M | $9.9M |
| Loss before taxes from continuing operations | -$208.4M | -$7.0M | -$40.1M |
| Income tax (expense) recovery | -$101.0K | -$346.0K | $154.0K |
| Loss from continuing operations | -$208.5M | -$7.4M | -$39.9M |
| Loss from discontinued operations | -$76.0M | -$21.0M | -$15.6M |
| Net loss | -$284.5M | -$28.4M | -$55.5M |
| Basic loss per share from continuing operations (in Dollars per share) | -$0 | -$0 | -$0 |
| Diluted loss per share from continuing operations (in Dollars per share) | -$0 | -$0 | -$0 |
| Basic loss per share from discontinued operations (in Dollars per share) | -$0 | -$0 | -$0 |
| Diluted loss per share from discontinued operations (in Dollars per share) | -$0 | -$0 | -$0 |
| Basic loss per share (in Dollars per share) | -$0.52 | -$0.07 | -$0.21 |
| Diluted loss per share (in Dollars per share) | -$0.52 | -$0.07 | -$0.21 |
| Weighted average number of common shares outstanding, basic (in Shares) | 551.7M shares | 414.7M shares | 262.2M shares |
| Weighted average number of common shares outstanding, diluted (in Shares) | 551.7M shares | 414.7M shares | 262.2M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $573.5M | $59.5M | $84.0M | |
| Accounts receivable, net | $5.5M | $1.3M | ||
| Digital assets | $174.7M | $87.3M | ||
| Digital assets - restricted | $5.6M | $32.8M | ||
| Other assets | $2.8M | $4.3M | ||
| Rights to renewable energy credits and waste tax credits | $18.5M | |||
| Assets held for sale | $28.7M | $9.4M | ||
| Short-term prepaid deposits | $6.3M | $14.6M | ||
| Inventories | $8.7M | $1.1M | ||
| Derivative assets | $2.3M | $3.4M | ||
| Total current assets | $826.5M | $213.7M | ||
| Restricted cash | $57.5M | |||
| Property, plant and equipment, net | $358.3M | $237.3M | ||
| Operating lease right-of-use assets, net | $11.1M | $21.3M | ||
| Finance lease right-of-use assets, net | $2.1M | $2.3M | ||
| Long-term deposits and equipment prepayments | $31.0M | $44.6M | ||
| Refundable deposits | $350.0K | $14.2M | ||
| Intangible assets, net | $3.0M | $4.6M | ||
| Assets held for sale | $125.1M | |||
| Investment in equity securities | $1.2M | |||
| Long-term derivative assets | $5.2M | |||
| Total assets | $1.3B | $663.1M | ||
| Accounts payable and accrued expenses | $46.4M | $25.8M | ||
| Current portion of long-term debt | $97.0M | $146.0K | ||
| Current portion of operating lease liabilities | $1.5M | $2.0M | ||
| Current portion of finance lease liabilities | $235.0K | $130.0K | ||
| Derivative liabilities | $2.9M | $128.0K | ||
| Total current liabilities | $148.1M | $28.2M | ||
| Long-term debt | $572.4M | $1.4M | ||
| Operating lease liabilities | $10.6M | $17.4M | ||
| Finance lease liabilities | $2.0M | $2.3M | ||
| Deferred tax liability | $65.0K | $65.0K | ||
| Other non-current liabilities | $2.8M | $2.6M | ||
| Total liabilities | $736.0M | $52.0M | ||
| Common stock - no par value; Authorized unlimited number of shares; Issued and outstanding 601,579,999 and 479,332,885 shares | $1.1B | $837.8M | ||
| Additional paid-in capital | $108.3M | $101.3M | ||
| Accumulated deficit | -$612.5M | -$327.9M | ||
| Total stockholders equity | $560.4M | $611.1M | $325.4M | $246.5M |
| Total liabilities and stockholders equity | $1.3B | $663.1M | ||
| Common stock, shares issued (in Shares) | 601.6M shares | 479.3M shares | ||
| Common stock, shares outstanding (in Shares) | 601.6M shares | 479.3M shares | 334.2M shares | 224.2M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $573.5M | $59.5M | $84.0M | |
| Accounts receivable, net | $5.5M | $1.3M | ||
| Digital assets | $174.7M | $87.3M | ||
| Digital assets - restricted | $5.6M | $32.8M | ||
| Other assets | $2.8M | $4.3M | ||
| Rights to renewable energy credits and waste tax credits | $18.5M | |||
| Assets held for sale | $28.7M | $9.4M | ||
| Short-term prepaid deposits | $6.3M | $14.6M | ||
| Inventories | $8.7M | $1.1M | ||
| Derivative assets | $2.3M | $3.4M | ||
| Total current assets | $826.5M | $213.7M | ||
| Restricted cash | $57.5M | |||
| Property, plant and equipment, net | $358.3M | $237.3M | ||
| Operating lease right-of-use assets, net | $11.1M | $21.3M | ||
| Finance lease right-of-use assets, net | $2.1M | $2.3M | ||
| Long-term deposits and equipment prepayments | $31.0M | $44.6M | ||
| Refundable deposits | $350.0K | $14.2M | ||
| Intangible assets, net | $3.0M | $4.6M | ||
| Assets held for sale | $125.1M | |||
| Investment in equity securities | $1.2M | |||
| Long-term derivative assets | $5.2M | |||
| Total assets | $1.3B | $663.1M | ||
| Accounts payable and accrued expenses | $46.4M | $25.8M | ||
| Current portion of long-term debt | $97.0M | $146.0K | ||
| Current portion of operating lease liabilities | $1.5M | $2.0M | ||
| Current portion of finance lease liabilities | $235.0K | $130.0K | ||
| Derivative liabilities | $2.9M | $128.0K | ||
| Total current liabilities | $148.1M | $28.2M | ||
| Long-term debt | $572.4M | $1.4M | ||
| Operating lease liabilities | $10.6M | $17.4M | ||
| Finance lease liabilities | $2.0M | $2.3M | ||
| Deferred tax liability | $65.0K | $65.0K | ||
| Other non-current liabilities | $2.8M | $2.6M | ||
| Total liabilities | $736.0M | $52.0M | ||
| Common stock - no par value; Authorized unlimited number of shares; Issued and outstanding 601,579,999 and 479,332,885 shares | $1.1B | $837.8M | ||
| Additional paid-in capital | $108.3M | $101.3M | ||
| Accumulated deficit | -$612.5M | -$327.9M | ||
| Total stockholders equity | $560.4M | $611.1M | $325.4M | $246.5M |
| Total liabilities and stockholders equity | $1.3B | $663.1M | ||
| Common stock, shares issued (in Shares) | 601.6M shares | 479.3M shares | ||
| Common stock, shares outstanding (in Shares) | 601.6M shares | 479.3M shares | 334.2M shares | 224.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$284.5M | -$28.4M | -$55.5M |
| Depreciation and amortization | $122.6M | $135.4M | $84.3M |
| Impairment of long-lived assets and deposits | $101.8M | $3.6M | $12.6M |
| Total other expense (income) | $59.0M | -$21.1M | -$8.8M |
| Digital assets earned and hosting revenue received in Bitcoin | -$262.9M | -$186.5M | -$141.3M |
| Stock-based compensation | $15.0M | $12.7M | $10.9M |
| Income tax expense (recovery) | $833.0K | -$186.0K | $2.2M |
| Renewable energy credits earned | -$22.8M | ||
| (Gain) loss on disposition of assets and other | -$5.5M | -$691.0K | $1.6M |
| Digital assets exchanged for services | $10.0M | $1.5M | |
| Realized gain on disposition of digital assets | -$28.2M | -$27.2M | -$7.7M |
| Asset retirement obligation accretion expense | $222.0K | $270.0K | $214.0K |
| Change in fair value of digital assets | $50.5M | -$26.0M | -$7.6M |
| Interest income received | $4.6M | $5.6M | $1.8M |
| Interest expenses paid | -$1.3M | -$1.7M | -$13.9M |
| Income taxes (paid) received | -$427.0K | -$1.5M | $11.6M |
| Proceeds from disposition of renewable energy and waste tax credits | $13.3M | ||
| Changes in non-cash working capital components | $1.1M | -$7.5M | $2.7M |
| Net change in cash related to operating activities | -$226.6M | -$141.7M | -$106.9M |
| Proceeds from sale of digital assets | $171.1M | $152.1M | $129.3M |
| Purchase of property, plant and equipment and intangible assets | -$100.3M | -$286.9M | -$48.4M |
| Proceeds from sale of property, plant and equipment and assets held for sale | $34.6M | $5.5M | $3.1M |
| Costs related to purchase and sale of assets held for sale | -$8.0M | ||
| Purchase of marketable securities | -$34.0M | -$22.4M | -$36.3M |
| Proceeds from disposition of marketable securities | $34.0M | $24.7M | $48.5M |
| Refundable Hosting Deposit | -$15.6M | ||
| Purchase of derivative assets and liabilities | -$154.4M | -$14.0M | |
| Settlement of derivative assets and liabilities | $172.9M | $31.1M | |
| Equipment and construction prepayments | -$20.2M | -$52.9M | -$22.9M |
| Proceeds from disposal of business | $63.0M | ||
| Acquisition of business | -$48.1M | ||
| Investment in equity securities | -$1.2M | ||
| Acquisition of assets | -$5.6M | -$2.4M | |
| Net change in cash related to investing activities | $103.7M | -$178.4M | $71.0M |
| Repayment of long-term debt | -$785.0K | -$4.1M | -$30.5M |
| Proceeds from long-term debt, net of transaction costs | $666.5M | $1.7M | |
| Repayment of finance lease liabilities | -$820.0K | -$1.1M | -$2.5M |
| Lease incentive received | $714.0K | ||
| Issuance of common shares and warrants | $72.7M | $289.5M | $109.1M |
| Exercise of stock options and warrants | $35.7M | $8.9M | $13.0M |
| Purchase of capped calls | -$69.1M | ||
| Repurchase and cancellation of common shares | -$10.0M | ||
| Net change in cash related to financing activities | $694.3M | $295.6M | $89.1M |
| Net increase (decrease) in cash and restricted cash | $571.4M | -$24.5M | $53.1M |
| Exchange rates differences on currency translation | -$8.0K | -$8.0K | $18.0K |
| Cash flows from (used in) discontinued operations | $13.1M | $2.1M | -$1.1M |
No quarter-by-quarter statement was filed.
Corporate structure
Keel Infrastructure Corp. sits at the top of its group. 25 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Keel Infrastructure Corp.
- BlackRock Filed SCHEDULE 13G on Keel Infrastructure Corp., latest Jul 29, 2026
- JANE STREET GROUP, LLC Filed SCHEDULE 13G on Keel Infrastructure Corp., latest May 18, 2026 (4 filings since Oct 23, 2025)
- Citadel Securities GP LLC Filed SCHEDULE 13G on Keel Infrastructure Corp., latest Feb 12, 2026
- Riot Platforms, Inc. Filed SCHEDULE 13D/A on Keel Infrastructure Corp., latest Aug 18, 2025 (23 filings since May 28, 2024)
- CVI Investments, Inc. Filed SC 13G/A on Keel Infrastructure Corp., latest Feb 14, 2024 (2 filings since Dec 1, 2023)
- Invesco Filed SC 13G/A on Keel Infrastructure Corp., latest Feb 1, 2024 (2 filings since Feb 10, 2023)
- Emiliano Grodzki Filed SC 13G/A on Keel Infrastructure Corp., latest Feb 14, 2023 (2 filings since Feb 17, 2022)
- Keel Infrastructure Corp. New York, New York, United States
- 9159-9290 Quebec Inc. Subsidiary · Quebec, Canada
- Backbone Hosting Solutions (USA) Inc. Subsidiary · Delaware, United States
- Backbone Hosting Solutions Inc. Subsidiary · Canada
- Backbone Hosting Solutions Paraguay SA Subsidiary · Paraguay
- Backbone Hosting Solutions SAU Subsidiary · Argentina
- Backbone Mining Solutions LLC Subsidiary · Delaware, United States
- Backbone Sharon LLC (USA - Delaware) Subsidiary · Delaware, United States
- Bitfarms Paraguay LP Subsidiary · Ontario, Canada
- BMS Capital Inc. Subsidiary · Ontario, Canada
- Carbon Node East Development, LLC Subsidiary · Delaware, United States
- Carbon Node East Holdings, LLC Subsidiary · Delaware, United States
- Carbon Node East Property, LLC Subsidiary · Delaware, United States
- D&N Ingeniería S.A. Subsidiary · Paraguay
- Grant Node Development, LLC Subsidiary · Delaware, United States
- Grant Node Property, LLC Subsidiary · Delaware, United States
- Mercer Node Development, LLC Subsidiary · Delaware, United States
- Mercer Node Property, LLC Subsidiary · Delaware, United States
- Orion Constellation Technologies Inc. Subsidiary · Quebec, Canada
- Panther Creek Power Operating LLC Subsidiary · Delaware, United States
- Scrubgrass Reclamation Company LP Subsidiary · Delaware, United States
- Sharon HPC Energy Inc. Subsidiary · Delaware, United States
- Stronghold Digital Mining Hashco LLC Subsidiary · Delaware, United States
- Stronghold Digital Mining Inc. (USA - Delaware) Subsidiary · Delaware, United States
- Stronghold Digital Mining LLC Subsidiary · Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Keel Infrastructure Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Buildings and improvements | $1.6M12 Dec 31, 2024 | $7.0K8 May 31, 2022 | +22414.3% |
| Construction in progress | $20.1M6 Dec 31, 2025 | $2.5M6 Dec 31, 2024 | +696.3% |
| Property and equipment, before depreciation | $548.1M6 Dec 31, 2025 | $401.6M6 Dec 31, 2024 | +36.5% |
| Accumulated depreciation | $189.8M6 Dec 31, 2025 | $164.3M6 Dec 31, 2024 | +15.5% |
| Property and equipment, net | $358.3M6 Dec 31, 2025 | $237.3M6 Dec 31, 2024 | +51.0% |
| Finance-lease assets | $2.1M6 Dec 31, 2025 | $2.3M6 Dec 31, 2024 | −6.8% |
| Operating-lease assets (leased space) | $11.1M6 Dec 31, 2025 | $21.3M6 Dec 31, 2024 | −47.9% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $59.5M12 Dec 31, 2024 | $84.0M12 Dec 31, 2023 | −29.1% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $4.0M12 Dec 31, 2024 | $3.7M12 Dec 31, 2023 | +9.2% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $8.7M6 Dec 31, 2025 | $1.1M6 Dec 31, 2024 | +663.1% |
| Raw materials | $18.0K6 Dec 31, 2025 | $2.7M6 Dec 31, 2024 | −99.3% |
Properties, in its own words
The following table summarizes our principal owned and leased properties as of March 27, 2026. These sites are used to host our HPC data centers.
Location · Energized Capacity · Property Information
The rest of Item 2
Canada
Farnham, Québec, Canada · 10 MW · Leased
Saint-Hyacinthe, Québec, Canada · 15 MW · Leased
Cowansville, Québec, Canada · 17 MW · Leased
Baie-Comeau, Québec, Canada · 22 MW · Leased
Magog, Québec, Canada · 10 MW · Leased
Bunker, Sherbrooke, Québec, Canada · 48 MW · Leased
Leger, Sherbrooke, Québec, Canada · 30 MW · Leased
Garlock, Sherbrooke, Québec, Canada · 18 MW · Leased
United States
Sharon, Pennsylvania, United States · 30 MW · Leased/Owned(1)
Panther Creek, Pennsylvania, United States · 60 MW · Owned
Scrubgrass, Pennsylvania, United States · 63 MW · Owned
Moses Lake, Washington, United States · 18 MW · Owned
(1) · In October 2025, the Company acquired the property it was leasing in Sharon, Pennsylvania, from the landlord for a total consideration of $38.7 million consisting of $5.0 million in cash and $33.7 million worth of the Company’s shares as at the date of the close. This resulted in the issuance of 8,500,000 shares of the Company to the seller. Following the termination of the long-term lease agreement for the site, the Company anticipates average annual rent savings of $1.8 million for each of the remaining years
In addition, in January 2026, we entered into a lease for an approximately 9,000 square feet space in New York at Equitable Life Building, 120 Broadway, Suite 1075, New York, NY, 10004 that we intend to use as our corporate headquarters post U.S. Redomiciliation. We maintain offices in New York City (New York, U.S.), Toronto (Ontario, Canada), Brossard (Québec, Canada) and Pittsburgh (Pennsylvania, U.S.). We established our New York City office in 2025 as part of our U.S. Redomiciliation efforts and institutional positioning, and this office will be our principal executive office upon our U.S. Redomiciliation.
We believe our existing facilities are sufficient for our current needs. In the future, we may reassess our existing facilities or add new facilities as we further expand our operations. We believe suitable space will be available on commercially reasonable terms to meet our future needs.
Item 2 of the 10-K filed Mar 31, 2026.5
Leadership
Who has led Keel Infrastructure Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerBenjamin Gagnon Apr 1, 2026 to now13
- PresidentGanesh Aiyer Jul 13, 2026 to now14
- Chief financial officerJonathan Mir Apr 1, 2026 to now15
- Chief operating officerLiam Daniel Wilson Apr 1, 2026 to now16
Board members and other officers (9)
- Principal Accounting OfficerMarc-Andre Ammann Apr 1, 2026 to now17
- EVP, Gen. Counsel & Corp. Sec.Rachel Rose Silverstein Apr 6, 2026 to now18
- Board memberAmy Freedman Apr 1, 2026 to now19
- Board memberBenjamin Gagnon Apr 1, 2026 to now13
- Board memberBrian Howlett Apr 1, 2026 to now20
- Board memberEdith Hofmeister Apr 1, 2026 to now21
- Board memberFanny Philip Apr 1, 2026 to now22
- Board memberWayne Duso Apr 1, 2026 to now23
- General counselRachel Rose Silverstein Apr 1, 2026 to now24
Named in SEC Form D filings
People the company listed in its private-offering notices.
- Executive OfficerAndrea Geoffrey Keen named Dec 13, 202325
- Executive OfficerBenoit Geoffrey Gobeil named Dec 13, 202325
- Executive OfficerDamian L. Polla named Dec 13, 202325
- Executive OfficerGuillaume L. Reeves named Dec 13, 202325
- Executive OfficerJeff (Jun Feng) Geoffrey Gao named Dec 13, 202325
- Executive OfficerJeffrey Geoffrey Lucas named Dec 13, 202325
- Executive Officer, DirectorL. Geoffrey Morphy named Dec 13, 202325
- Executive OfficerPatricia Geoffrey Osorio named Dec 13, 202325
- Executive OfficerPaul Geoffrey Magrath named Dec 13, 202325
- Executive OfficerPhillipe Geoffrey Fortier named Dec 13, 202325
- Executive OfficerStephanie Geoffrey Wargo named Dec 13, 202325
- DirectorAndres Finkielsztain named Dec 13, 202325
- DirectorEmiliano Grodzki named Dec 13, 202325
- DirectorNicolas Bonta named Dec 13, 202325
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- 9159-9290 Quebec Inc. Quebec (Canada)4
- BMS Capital Inc. Ontario (Canada)4
- Backbone Hosting Solutions (USA) Inc. Delaware (USA)4
- Backbone Hosting Solutions Inc. Canada4
- Backbone Hosting Solutions Paraguay SA Paraguay4
- Backbone Hosting Solutions SAU Argentina4
- Backbone Mining Solutions LLC Delaware (USA)4
- Backbone Sharon LLC (USA - Delaware) Delaware (USA)4
- Bitfarms Paraguay LP Ontario (Canada)4
- Carbon Node East Development, LLC Delaware (USA)4
- Carbon Node East Holdings, LLC Delaware (USA)4
- Carbon Node East Property, LLC Delaware (USA)4
- D&N Ingeniería S.A. Paraguay4
- Grant Node Development, LLC Delaware (USA)4
- Grant Node Property, LLC Delaware (USA)4
- Mercer Node Development, LLC Delaware (USA)4
- Mercer Node Property, LLC Delaware (USA)4
- Orion Constellation Technologies Inc. Quebec4
- Panther Creek Power Operating LLC Delaware (USA)4
- Scrubgrass Reclamation Company LP Delaware (USA)4
- Sharon HPC Energy Inc. Delaware (USA)4
- Stronghold Digital Mining Hashco LLC Delaware (USA)4
- Stronghold Digital Mining Inc. (USA - Delaware) Delaware (USA)4
- Stronghold Digital Mining LLC Delaware (USA)4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Bitfarms LtdJun 15, 2020 to Mar 31, 20263
Timeline
- Aug 10, 20268-K Results of operations26
- Jul 6, 20268-K Executive or director change; Regulation FD disclosure27
- Jun 16, 20268-K Change of auditor28
- Jun 10, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares29
- Jun 5, 20268-K Other events30
- Jun 4, 20268-K Other events31
- May 11, 20268-K Results of operations32
- Apr 3, 20268-K Executive or director change33
- Apr 1, 2026New chief executive Benjamin Gagnon becomes CEO13
- Apr 1, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares34
- Feb 5, 2026Founded Keel Infrastructure Corp. is founded2
Calendar
Coming up
- Nov 12, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.02) a share, on Nov 13, 2025.35
When it reported results
- Aug 10, 2026Reported quarterly or annual results26
- May 11, 2026Reported quarterly or annual results32
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
394 filings to the SEC since October 2021: 6 annual reports, 2 quarterly reports, 9 major events, 33 insider forms, 35 large holders, 1 private raises, 308 other. The latest 20:
- Aug 21, 20264 EDGAR
- Aug 20, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 10, 202610-Q EDGAR
- Aug 10, 20268-K EDGAR
- Jul 29, 2026SCHEDULE 13G EDGAR
- Jul 14, 20264 EDGAR
- Jul 14, 20264 EDGAR
- Jul 14, 20264 EDGAR
- Jul 14, 20264 EDGAR
- Jul 13, 20264 EDGAR
- Jul 13, 20263 EDGAR
- Jul 6, 20268-K CURRENT REPORT EDGAR
- Jun 30, 20264 EDGAR
- Jun 16, 20268-K CURRENT REPORT EDGAR
- Jun 10, 20268-K CURRENT REPORT EDGAR
- Jun 5, 20268-K CURRENT REPORT EDGAR
- Jun 4, 20268-K CURRENT REPORT EDGAR
- May 18, 2026SCHEDULE 13G EDGAR
The 394 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Gagnon BenjaminChief Executive Officer | Buy | 38,888 | $3.33 | $129.5K | Form 4 |
| Aug 20, 2026 | WILSON LIAM DANIELChief Operating Officer | Buy | 30,769 | $3.25 | $100.0K | Form 4 |
| Aug 17, 2026 | WILSON LIAM DANIELChief Operating Officer | Buy | 26,472 | $3.78 | $100.1K | Form 4 |
| Aug 13, 2026 | Gagnon BenjaminChief Executive Officer | Buy | 58,888 | $3.33 | $196.1K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- BlackRockSCHEDULE 13G, 1 filing Jul 29, 202636
- JANE STREET GROUP, LLCSCHEDULE 13G, 4 filings Oct 23, 2025 to May 18, 202637
- Citadel Securities GP LLCSCHEDULE 13G, 1 filing Feb 12, 202638
- Riot Platforms, Inc.SCHEDULE 13D/A, 23 filings May 28, 2024 to Aug 18, 202539
- CVI Investments, Inc.SC 13G/A, 2 filings Dec 1, 2023 to Feb 14, 202440
- InvescoSC 13G/A, 2 filings Feb 10, 2023 to Feb 1, 202441
- Emiliano GrodzkiSC 13G/A, 2 filings Feb 17, 2022 to Feb 14, 202342
Money raised
Private offerings the company reported to the SEC on Form D.
- Nov 28, 2023Raised $43.8 million in a private offering of equity Form D: 2 investors so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Keel Infrastructure Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARKeel Infrastructure Corp.1
- CIK0001812477
- Employer ID (EIN)00-00000005
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inOntario5
- Fiscal year endsDecember 311
- Industry code (SIC)6199 Finance Services1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address120 Broadway, Suite 1075, New York, NY 100041
- Phone647-259-17901
- Shares outstanding617,573,212 as of Aug 7, 202610
- Public float$406.2M as of Jun 30, 20255
- AuditorPricewaterhouseCoopers LLP, Toronto, Canada PCAOB ID 271; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceJun 15, 20201
- Filings419 in all: 6-K (235), 425 (37), 4 (21), SC 13D/A (13), 3 (12), 8-K (9), SCHEDULE 13D/A (9), CORRESP (8)1
All 39 form types
UPLOAD (8), 144 (6), D (6), 40-F (4), F-10/A (4), SCHEDULE 13G (4), SUPPL (4), F-X (3), S-8 (3), SC 13G (3), SC 13G/A (3), 10-Q (2), 8-A12B (2), EFFECT (2), F-10 (2), F-4/A (2), S-8 POS (2), SCHEDULE 13G/A (2), 10-K (1), 40-F/A (1), 40FR12B (1), 40FR12B/A (1), 424B3 (1), 6-K/A (1), CERT (1), D/A (1), F-4 (1), RW (1), S-3ASR (1), SC 13D (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (10-K) Mar 31, 2026
Quarterly report (10-Q) Aug 10, 2026
Latest 8-K (8-K) Aug 10, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Shares | BITF | Nasdaq |
From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
Legal proceedings
For a description of our material pending legal proceedings, refer to Note 27 - Commitments and Contingencies included in our notes to our consolidated financial statements included elsewhere in this Annual Report, which is incorporated herein by reference.
We are not presently a party to any other legal or regulatory proceedings that, in the opinion of our management based on information currently available, if determined adversely to us, would individually or taken together have a material adverse effect on our business, financial condition, or results of operations. However, we are subject to regulatory oversight by numerous federal, state, provincial, local, and other regulators and we are, and we may become, subject to various legal proceedings, inquiries, investigations, and demand letters that arise in the course of our business, any of which may result in judgments, settlements, fines, penalties, injunctions or other relief. Such matters are subject to many uncertainties and outcomes that are not predictable.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARGanesh Aiyer, President
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- 19SEC EDGARAmy Freedman, Board member
- 20SEC EDGARBrian Howlett, Board member
- 21SEC EDGAREdith Hofmeister, Board member
- 22SEC EDGARFanny Philip, Board member
- 23SEC EDGARWayne Duso, Board member
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- 26SEC EDGARResults of operations
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- 28SEC EDGARChange of auditor
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- 30SEC EDGAROther events
- 31SEC EDGAROther events
- 32SEC EDGARResults of operations
- 33SEC EDGARExecutive or director change
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- 35NasdaqNasdaq calendar
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