[Keel Infrastructure (formerly Bitfarms) Completes Transition from Mining Company to AI, Reports $145 Million Net Loss in Q1] According to Decrypt, Keel Infrastructure, formerly known as the Bitcoin mining company Bitfarms, released its Q1 financial report, showing a net loss of $145 million. Revenue dropped 23% year-over-year to $37 million, while operating losses widened to $98 million. The losses were primarily driven by a $41 million loss from changes in the fair value of digital assets and a $22 million loss from repaying the Macquarie credit facility. The company has completed its transformation from a Canadian Bitcoin mining company to a U.S.-based AI/HPC infrastructure developer, exiting its Latin American operations by selling non-core assets such as the Paso Pe mine in Paraguay.