Keel (KEEL) Sells Entire Bitcoin Treasury for $192 Million, Will Sell BTC Daily
By Micah Zimmerman
AI summary of the source article
Keel Infrastructure sold its entire bitcoin treasury of 2,520 bitcoin for $192 million in the third quarter. The company will now sell mined bitcoin daily as it shifts focus toward high-performance computing and AI infrastructure.
Why it matters
The company stated that selling daily is aimed at “effectively eliminating the Company’s exposure to Bitcoin price movements on treasury holdings” as it funds high-performance computing and AI infrastructure.
Key facts
- Keel Infrastructure sold 2,520 bitcoin for $192 million in the third quarter, leaving nominal holdings by Sept. 30.
- Going forward, bitcoin mined from Keel's remaining Quebec operations will be sold on a daily basis.
- The company reported roughly $780 million in unrestricted cash as of Nov. 4 to help fund its AI infrastructure build.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Keel (KEEL) Sells Entire Bitcoin Treasury for $192 Million, Will Sell BTC Daily Keel sold 2,520 bitcoin in the third quarter, left its treasury near zero and said Quebec-mined coins will now be sold every day as it pivots to AI data centers. This post Keel (KEEL) Sells Entire Bitcoin Treasury for $192 Million, Will Sell BTC Daily first appeared on Bitcoin Magazine and is written b…