Jim Cramer used his July 22 Mad Money episode to point investors toward Keel Infrastructure (KEEL), a former Bitcoin miner turned AI data center developer. He cited a hedge fund’s expanding stake as the reason to pay attention.

What Cramer Flagged

Cramer highlighted Situational Awareness LP, the fund run by AI researcher Leopold Aschenbrenner, as a notable KEEL holder. Regulatory filings show the fund grew its position by 188% in the first quarter of 2026. It now holds nearly 20 million shares, up from roughly 6.9 million.

Fresh analyst coverage backs up the timing. BTIG initiated KEEL at Buy on July 22 with an $8 price target. That implies roughly 72% upside from the stock’s $4.65 close. The firm pointed to Keel’s power portfolio as the key asset. It also noted that hyperscalers and AI enterprise customers have signed around 10 colocation contracts totaling roughly 2 gigawatts across the sector this year.

The Company Behind the Ticker

Keel Infrastructure is the rebranded successor to Bitfarms. The company completed its shift from Canadian Bitcoin miner to Delaware-based AI infrastructure developer in April. It now controls a 2.2 gigawatt power pipeline across Pennsylvania, Washington, and Quebec. But it still hasn’t landed its first hyperscale colocation contract, the catalyst BTIG and other analysts are watching for.

Keel also carries a debt-to-equity ratio above 140% and negative free cash flow. Execution risk stays real even as the power pipeline draws bullish coverage. The stock’s 52-week range, from $0.98 to $7.37, shows just how sharply sentiment swings on AI infrastructure names that are still waiting on a signed customer.

Should Investors Trust Cramer’s Read

Cramer’s Keel comments follow a rougher stretch for his other tech calls. BeInCrypto has tracked the Inverse Cramer pattern through this earnings season, including Intel’s slide hours after Cramer named it his favorite stock. That history gives KEEL bulls a reason for caution alongside the bullish signal.

Still, the Situational Awareness stake predates Cramer’s endorsement by more than a quarter. And BTIG’s target reflects a specific catalyst analysts are tracking, not blanket enthusiasm for the crypto-to-AI pivot trade.

That trade has also produced disappointments, including American Bitcoin’s post-IPO stagnation.

Whether Keel signs a hyperscaler deal will decide which read on this one ages better, not Cramer’s airtime.

Source: BeInCrypto