Filing Flows › Keel Infrastructure (KEEL) › Q2 2026 › vs Q1 2026
Keel Infrastructure (KEEL) Q2 2026 vs Q1 2026 (quarter over quarter)
Keel Infrastructure's revenue fell $6.6M (-18%) from $37.0M in Q1 2026 to $30.4M in Q2 2026. The biggest changes: Bitcoin Mining −$4.0M (-13%); Energy sales −$3.5M (-59%); Electrical services +$1.5M (+274%).
Keel Infrastructure, Q2 2026: revenue $30.4M (-50% year over year), operating margin -462.6%, net loss $65.0M, operating cash flow −$52.9M. The chart draws each line against Q1 2026, the increases inside each band.
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Bitcoin Mining | $25.9M | $29.9M | −$4.0M | -13% |
| Energy sales | $2.4M | $5.9M | −$3.5M | -59% |
| Electrical services | $2.0M | $537K | $1.5M | +274% |
| Cryptocurrency Hosting | $179K | $691K | −$512K | -74% |
| Revenue | $30.4M | $37.0M | −$6.6M | -18% |
| Other income, net | $75.8M | −$47.0M | $123M | — |
| Net loss | $65.0M | $145M | −$80.4M | -55% |
| Costs & expenses | $171M | $182M | −$11.1M | -6% |
| Operating costs | $171M | $135M | $35.8M | +26% |
| Income tax | $17K | −$3K | $20K | — |
| Cost of revenue | $117M | $63.3M | $53.9M | +85% |
| General & admin | $31.3M | $26.8M | $4.5M | +17% |
| Other operating costs | $22.7M | $45.2M | −$22.5M | -50% |
| Operating cash sources | $147M | $96.0M | $50.9M | +53% |
| Depreciation & amortization | $84.1M | $27.7M | $56.5M | +204% |
| Share-based compensation | $9.8M | $3.7M | $6.2M | +169% |
| Cash used in operations | $52.9M | $64.7M | −$11.8M | -18% |
| Net loss absorbed | $65.0M | $145M | −$80.4M | -55% |
| Working capital & other | $81.9M | −$49.3M | $131M | — |
Questions
How much did Keel Infrastructure's revenue grow quarter over quarter in Q2 2026?
Keel Infrastructure's revenue fell $6.6M (-18%) from $37.0M in Q1 2026 to $30.4M in Q2 2026.
What drove Keel Infrastructure's revenue change in Q2 2026?
Bitcoin Mining −$4.0M (-13%); Energy sales −$3.5M (-59%); Electrical services +$1.5M (+274%).