Bitfarms Successor Keel Ends U.S. Bitcoin Mining as Infrastructure Shifts Toward AI
Keel Infrastructure, formerly Bitfarms, ceased Bitcoin mining at its three remaining Pennsylvania sites on June 29, ending its U.S. Bitcoin-mining operations as the company redirected power infrastructure toward high-performance computing and AI data centers.
On June 29, 2026, Keel Infrastructure—formerly Bitfarms—ceased Bitcoin mining at its Panther Creek, Scrubgrass, and Sharon sites in Pennsylvania. The shutdown ended the company’s remaining U.S. Bitcoin-mining operations after its Washington State mining site had already stopped operating in April as part of the same strategic transition.
The company’s SEC filing was unusually explicit about the reason. Keel said it was transitioning from Bitcoin mining toward high-performance computing and artificial-intelligence infrastructure, and that the accelerated U.S. shutdown reflected both construction timelines for HPC and AI projects and macroeconomic factors affecting Bitcoin-mining profitability. Panther Creek and Scrubgrass retained valuable energized power capacity, while the 110-megawatt Sharon site was planned for conversion to an HPC data center.
The event captured a wider industrial tension in 2026. Bitcoin miners had spent years assembling large electrical interconnections, substations, land positions, and data-center expertise. The AI boom made many of those same power assets valuable for a competing use with different revenue expectations. For some operators, the question was no longer how to expand Bitcoin hashrate, but whether the grid connection itself was worth more serving AI workloads.
Keel continued legacy Bitcoin mining in Canada, so June 29 was not the company’s global exit from Bitcoin. Its historical significance is the end of U.S. Bitcoin mining by a major publicly traded mining company as part of a deliberate infrastructure reallocation toward AI/HPC. That makes it a mining-industry transition event rather than a routine facility closure.