Filing Flows › Keel Infrastructure (KEEL) › Q3 2026 › vs Q2 2026
Keel Infrastructure (KEEL) Q3 2026 vs Q2 2026 (quarter over quarter)
Keel Infrastructure's revenue fell $2.8M (-9%) from $30.4M in Q2 2026 to $27.6M in Q3 2026. The biggest changes: Bitcoin Mining −$6.9M (-27%); Energy sales +$4.8M (+199%); Electrical services −$454K (-23%).
Keel Infrastructure, Q3 2026: revenue $27.6M (-59% year over year), operating margin -27.8%, net loss $62.7M, operating cash flow −$41.9M. The chart draws each line against Q2 2026, the increases inside each band.
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Bitcoin Mining | $18.9M | $25.9M | −$6.9M | -27% |
| Energy sales | $7.1M | $2.4M | $4.8M | +199% |
| Electrical services | $1.6M | $2.0M | −$454K | -23% |
| Revenue | $27.6M | $30.4M | −$2.8M | -9% |
| Net loss | $62.7M | $65.0M | −$2.3M | -4% |
| Costs & expenses | $90.3M | $171M | −$80.9M | -47% |
| Operating costs | $35.3M | $171M | −$136M | -79% |
| Interest & other, net | $53.5M | −$75.8M | $129M | — |
| Income tax | $1.5M | $17K | $1.5M | 89× |
| General & admin | $34.3M | $31.3M | $3.0M | +10% |
| Other operating costs | $986K | $22.7M | −$21.7M | -96% |
| Operating cash sources | $63.3M | $147M | −$83.6M | -57% |
| Depreciation & amortization | $12.6M | $84.1M | −$71.5M | -85% |
| Share-based compensation | $8.8M | $9.8M | −$1.0M | -10% |
| Cash used in operations | $41.9M | $52.9M | −$11.1M | -21% |
| Net loss absorbed | $62.7M | $65.0M | −$2.3M | -4% |
| Working capital & other | $602K | $81.9M | −$81.3M | -99% |
Questions
How much did Keel Infrastructure's revenue grow quarter over quarter in Q3 2026?
Keel Infrastructure's revenue fell $2.8M (-9%) from $30.4M in Q2 2026 to $27.6M in Q3 2026.
What drove Keel Infrastructure's revenue change in Q3 2026?
Bitcoin Mining −$6.9M (-27%); Energy sales +$4.8M (+199%); Electrical services −$454K (-23%).