Keel Infrastructure had a net loss of $145 million in the first quarter

According to Decrypt, Keel Infrastructure (formerly Bitfarms) released its first quarter financial report, with a net loss of $145 million, revenue down 23% year-on-year to $37 million, and operating losses expanding to $98 million. The losses were mainly due to a loss of $41 million from changes in fair value of digital assets and a loss of $22 million from repaying Macquarie's credit line. The company has completed its transformation from a Canadian Bitcoin mining company to a US AI/HPC infrastructure developer, and has exited its Latin American business by selling non core assets such as the Paso Pe mine in Paraguay.