On August 17, Keel Infrastructure Corp rose 11.4% in pre-market trading, trading at $3.84/share, with turnover of $772,300. The stock rallied as market confidence was bolstered by a recent director share purchase and the company's decisive strategic pivot toward AI data center operations.

According to insider transaction filings, Director Gagnon Benjamin purchased 58,900 shares on August 13 at $3.33 per share, totaling approximately $196,100. Concurrently, the company has fully exited Bitcoin mining operations, selling 1,085 BTC between April and early August to generate approximately $75 million in cash proceeds, which will be deployed toward converting existing mining facilities into high-performance computing data centers serving AI workloads. The company also secured municipal approval to operate 96 megawatts of power capacity and acquired dedicated land for data center construction.

While Q2 results reported on August 10 showed revenue of $30.4 million (down 50% year-over-year) and EPS of negative $0.11 — both missing consensus estimates — the market appears to have absorbed these headwinds, shifting focus to the long-term AI transformation thesis. BTIG Research maintains a Buy rating with an $8 price target.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)