Bitcoin Magazine

Keel Infrastructure to Consolidate Three Bitcoin Sites Into One AI Campus

Keel Infrastructure Corp. has secured a set of approvals that push its data center project in Sherbrooke, Québec, toward construction.

The City of Sherbrooke cleared the North American digital infrastructure and energy company to enter into an agreement with Hydro-Sherbrooke for the transfer and operation of 96 megawatts of existing capacity, along with a purchase agreement for the land where the campus will rise.

The power agreement lets Keel consolidate three of its current Bitcoin mining sites in the province into a single 96 MW campus. The company did not request additional power, a choice that preserves the use of current electrical infrastructure and keeps the project in step with Québec’s energy priorities. 

Keel won approval to recategorize the 96 MW from Bitcoin mining to high-performance computing and artificial intelligence, the workload class that draws capital across the sector.

A broader pivot from Bitcoin to AI

That pivot mirrors a broad shift. Public miners across the industry have moved to repurpose energized sites for compute, a trend visible in deals such as CleanSpark’s $6.6 billion data center lease and the company’s own decision to exit Bitcoin mining in favor of AI.

Investors reward operators that control power and built-out sites, though the transition carries risk. VanEck has warned that miners chasing AI infrastructure confront a $50 billion funding gap as capital flows to firms with capacity in hand.

The Sherbrooke footprint traces back to the company’s construction of mining farms in the city, which drew on the province’s low-cost hydro power. Keel will fold that base into one campus rather than build fresh demand into the grid.

Two conditions remain. Transfer of the energy capacity to the new site requires review and approval from Québec’s Ministry of Economy, Innovation and Energy. The land purchase, for a parcel about 100 miles east of Montréal, is subject to customary conditions that include site inspections, feasibility analysis, and municipal approvals. Keel expects that transaction to close in the first quarter of 2027.

“These developments represent an important step forward in the development of our Sherbrooke project, which will be one of the largest data center projects in Québec,” said Philippe Fortier, Executive Vice President, Corporate Development at Keel. “The City’s approval of these agreements reflects the strength of the project and our commitment to the Sherbrooke community.”

Fortier added that the company has operated in Québec since its inception and views the project as a long-term commitment to the local and provincial economies. Keel aims to build the campus on a lasting relationship with its host community.

Source: BitcoinMagazine