Keel Infrastructure Expands AI Data Center Pipeline
Keel Infrastructure (NASDAQ: KEEL) is poised to sign three leases for AI data centers with a combined capacity of 478 megawatts by year-end 2023. The company, which has a total electricity capacity pipeline of 2.2 gigawatts, possesses $533 million in liquidity to support these developments.
A significant project includes a 1.3-gigawatt site in Scrubgrass, Pennsylvania, currently under approval. In comparison, competitors Iren and Cipher Mining boast larger pipelines of 5 gigawatts and 4.2 gigawatts, respectively. Despite this, Keel’s stock has increased by 75% year-to-date, reflecting growing investor interest in its pivot from crypto mining to AI infrastructure.
While Keel’s business model differs from Iren’s, as it does not supply AI chips but rather manages data centers, the demand for AI infrastructure remains robust. Successful lease agreements could enhance Keel’s earnings potential and solidify its position in the capital-intensive AI sector.
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