Keel Stock Jumps 10% After Hiring Data Center Expert as President

A company that used to mine bitcoin just made a big hire — and investors loved it. Shares of Keel Infrastructure jumped 10% in the first hour of trading on Monday after the company announced a new president to lead its future growth.

Keel was previously known as Bitfarms, a company that mined bitcoin (using powerful computers to create new bitcoins and earn rewards). In April, it rebranded and shifted its focus toward AI infrastructure — providing the massive computing power that artificial intelligence systems need to run.

The new president is Ganesh Aiyer, a veteran of the data center industry. Data centers are giant buildings full of computers that power the internet, cloud services, and AI tools. Aiyer previously worked at:

• Digital Realty — one of the world's largest data center companies
• Schneider Electric — an energy and automation company
• Dell Technologies — a major computer maker

At Keel, Aiyer will oversee "commercial and pipeline expansion" — meaning he'll help find new customers and grow the business of selling high-powered computing services.

Why does this matter for investors? A stock (a small piece of ownership in a company) often rises when investors believe leadership changes will boost future profits. Hiring an experienced executive signals the company is serious about its new AI direction.

Here are the key numbers to know:

• Keel shares rose 10% in early Monday trading
• The stock has gained more than 120% since the April rebrand from Bitfarms
• However, the company reported a $145 million net loss (spending more than it earned) in its first quarter under the Keel name

The takeaway: Keel is betting that AI infrastructure is a bigger opportunity than bitcoin mining. While the stock has soared and investors are optimistic about the new leadership, the company is still losing money — a reminder that big transformations carry both promise and risk.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/407300/keel-jumps-10-former-bitcoin-miner-hires-data-center-veteran-president?utm_source=rss&utm_medium=rss