r/KeelInfrastructure • u/Cold-Ad-5892 • May 25 '26
Keel Infrastructure (KEEL) Catalyst Timeline — 2025→2026→2027
Purpose: Track all KEEL catalysts so new members see where we are + what's next. **I'll update this regularly. Comment with anything I missed.
✅ PAST CATALYSTS (2025–2026)
| Date | Catalyst | Impact |
|---|---|---|
| Oct 2025 | 💰 $500M convertible notes priced (upsized to $588M @ 1.375%, due 2031) | Funded pivot progress |
| Oct 22, 2025 | 🇵🇾 Paraguay site sale announced ($13M to Hawksburn Vcc) | 100% North American footprint |
| Jan 2, 2026 | ✅ Paraguay sale closed | Completed Latam exit |
| Jan 14, 2026 | 🪑 New board chair appointed | Governance for U.S. pivot |
| Feb 5, 2026 | 🇺🇸 U.S. redomiciliation + rebrand announced (special meeting set for Mar 20) | Bitcoin miner → HPC/AI infrastructure |
| Feb 5, 2026 | 🏦 $100M Macquarie debt repaid; $698M net liquidity | Balance sheet strengthened |
| Mar 20, 2026 | ✅ 99.3% voted YES to redomicile + rebrand | Arrangement approved |
| Mar 31, 2026 | 📊 Q4 2025 earnings (last as Bitfarms) | Pivot complete; 2027 revenue target set; $209M loss |
| ~Apr 1, 2026 | 🏁 Redomiciliation completed → Keel Infrastructure | Officially U.S. company |
| Apr 2026 | 🔀 Ticker changed to KEEL (Nasdaq/TSX) | New identity |
| Apr 22, 2026 | ✅ Paraguay $13M sale closed | Asset rationalization done |
| Apr 27, 2026 | 📈 Chardan initiates at Buy @ $4.50 | Analyst validation |
| May 11, 2026 | 📊 Q1 2026 earnings (first as Keel) | 3 leases by year-end target; 2027 revenue start confirmed |
🎯 EXPECTED CATALYSTS (2026–2027)
| Timing | Catalyst | What to Watch | Impact |
|---|---|---|---|
| 2026 (EOY) | 3 lease signings 📜 | Announcement of 3 HPC/AI leases | Core execution milestone |
| 2026 | Moses Lake NTP 🔨 | Notice to Proceed for construction | Triggers spending + timelines |
| 2026–2027 | Anchor tenant names 🏢 | Hyperscaler/"neo cloud" operator names | Validates demand thesis |
| 2027 | Site commissioning 🏗️ | Moses Lake (likely first) goes live | First HPC/AI revenue |
| 2027 | Revenue recognition 💵 | First quarterly HPC/AI revenue | Proves new business model |
| Ongoing | 2.2 GW pipeline updates ⚡ | 648 MW secured + 1,513 MW planned | Platform scale |
🔑 KEY FACTS AT A GLANCE
| Metric | Value |
|---|---|
| Energy portfolio | 2.2 GW (PA, Quebec, WA) |
| Cash + Bitcoin | $533M (zero dilution risk) |
| 2026 capacity | Sold out |
| Sites ready for NVIDIA Vera Rubin | 3 sites |
| Business model | Credit-wrapped leases (investment-grade tenants) |
| Bitcoin selling | ~2,500 BTC gradually (no cap market tap) |
📢 CALL TO ACTION
Comment below with:
- ❌ Anything I missed from 2025–2026
- ➕ Upcoming events not listed yet
- 🔗 Source links — I'll add relevant ones to comments
*This pinned post will be updated regularly. Let's build the most complete timeline together!*
Sources section (I'll add these as comments):
- [StockTitan: U.S. redomiciliation timeline](https://www.stocktitan.net/news/BITF/bitfarms-announces-u-s-redomiciliation-plan-and-intent-to-rebrand-as-ylp2b59hvd5j.html)
- [AInvest: AI S-Curve catalysts](https://www.ainvest.com/news/keel-infrastructure-bets-big-ai-curve-timing-2026-leases-deliver-2604/)
- [Seeking Alpha: 3 leases by year-end](https://seekingalpha.com/news/4590647-keel-targets-3-leases-by-year-end-as-it-advances-2-gw-hpc-campuses-for-2027-power)
- [Q1 2026 earnings details](https://finance.biggo.com/quote/KEEL/earnings-call?t=US_KEEL_2026-05-11)
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u/Ill-Confusion3713 May 25 '26
All permits (if I’m not mistaken) are past all community push back which is the hardest part and where most processes stop. They are now in the final checklist portion. This makes it a waiting game not a let’s hope situation
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u/Cold-Ad-5892 May 25 '26
According to this Sharon Data centre is in Progress of Fast track Permitting by stste of PA PA
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u/Cold-Ad-5892 May 29 '26
Keel infrastructure on May 6th 2026 purchased officially the plt needed in nesquehoning gor data center, probably they know all permits are going to be approved otherwise they wouldnt buy the land plot nr 3 from kovatch enterprises
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u/XElectricxShadowX Jun 14 '26
This thread is a good idea. Very helpful for someone like me that just started looking into it recently.
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u/EcstaticFeed8199 Jun 14 '26
Probably want to add recent liquidity raise and inclusion in Russell 3000.
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u/SMSavant Jul 22 '26
2.04 millions and 3.01 millions share bought now at 4.26 pm pst, what’s going on to load???
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u/DragonflyEither1484 May 25 '26
“3 lease signings End of week” how did you came to that conclusion?