Bitfarms stock forecast: $819m liquidity, no tenant yet
Keel Infrastructure became Bitfarms’ parent company in April 2026, with the group shifting towards data-centre development. Explore third-party KEEL price targets and technical analysis. Past performance is not a reliable indicator of future results.
Keel Infrastructure Corp (KEEL) – formerly Bitfarms – trades near $4.05 as of 9:14am UTC on 22 September 2026, within the session's $3.95–$4.21 range. Past performance is not a reliable indicator of future results.
Recent moves follow Keel's disclosure of $819 million in liquidity and a 2.2‑gigawatt development pipeline in its Q2 earnings release (Keel Infrastructure, 10 August 2026), though the company has not named a signed tenant for its priority sites; sentiment was also aided by the stock's addition to the S&P Software & Services Select Industry Index on 21 September (MarketScreener, 21 September 2026) and by a standby‑power agreement with PowerSecure covering its Moses Lake data‑centre campus (PR Newswire, 9 September 2026). The broader AI‑infrastructure sector remained in focus as peer names, including CoreWeave, addressed financing needs tied to data‑centre build‑outs, keeping cross‑asset attention on power‑hungry AI capacity development.
Third-party KEEL outlook: 2.2GW pipeline, no signed tenant
As of 22 September 2026, third-party Keel Infrastructure stock predictions show a wide range of 12-month outcomes. Much of the variation reflects expectations around lease execution and how quickly the company's data-centre pipeline can convert into contracted capacity.
PriceTargets.com (consensus overview)
PriceTargets.com reports an average 12-month target of $6.25 from eight Wall Street analysts, with estimates ranging from $3–$10. The average sits roughly 73% above the site's reference price. Its consensus rating is 'Moderate Buy', based on seven buys and one sell (PriceTargets.com, 18 September 2026).
Zacks Investment Research (price target update)
Zacks reports an average 12-month target of $6.33, with estimates from $4.50–$10. The average stands approximately 84% above the reference close used in the update and reflects estimates from analysts following the company's near-term lease pipeline (Zacks, 11 September 2026).
StockAnalysis.com (S&P Global poll)
StockAnalysis.com's poll of 11 analysts gives KEEL an average target of $6.45, with estimates spanning $4.50–$10. The site reports a 'Strong Buy' consensus rating (StockAnalysis.com, 11 September 2026).
MarketScreener (analyst consensus)
MarketScreener also reports an average target of $6.45 from 11 analysts, with estimates between $4.50 and $10. The average sits about 97% above the last recorded close used in the update, while the site lists the mean recommendation as 'Buy' (MarketScreener, 15 September 2026).
Public.com (forecast summary)
Public.com reports a 12-month consensus target of $6.67 from six analysts and labels the consensus rating 'Strong Buy'. The figure is unchanged from the previous period (Public.com, 8 September 2026).
Predictions and third-party forecasts are inherently uncertain, as they cannot fully account for unexpected market developments. Past performance is not a reliable indicator of future results.
Keel Infrastructure upcoming earnings
Keel Infrastructure reported Q2 2026 results on 10 August 2026 for the period ended 30 June 2026.
Revenue from continuing legacy operations fell 50% year on year to $30.4m, following the April shutdown of the Moses Lake bitcoin‑mining facility and lower average bitcoin prices. The company recorded an operating loss of $140.8m, including $84m of non‑cash depreciation and $63m of accelerated depreciation linked to the mining exit, compared with operating income of $11m a year earlier.
Loss from continuing operations was $64m, or $0.11 per share, versus income of $13m, or $0.02 per share, in Q2 2025. Adjusted EBITDA was negative $24m, compared with positive $7m a year earlier.
Quarter‑end liquidity stood at $819m, supported by a $458m convertible‑note offering completed during the period (Keel Infrastructure, 10 August 2026). Based on the company's historical reporting cadence, its next earnings release is estimated for 12 November 2026, although the date remains unconfirmed.
Keel Infrastructure stock price: technical overview
As of 9:14am UTC on 22 September 2026, the KEEL stock price trades around $4.07, above the 20- and 50-day simple moving averages (SMAs) at roughly $3.46 and $3.72, but below the 100-day SMA near $4.36. The 200-day SMA stands at $3.41, with the 200-day exponential moving average (EMA) nearby at $3.54.
Momentum readings are mixed. The 14-day relative strength index (RSI) stands at 59.8, below the commonly used overbought threshold of 70, while the average directional index (ADX) at 14.4 points to weak trend strength. Stochastic %K at 83.6, Williams %R at -10 and the fast stochastic RSI at 96 sit at elevated levels, while the moving average convergence divergence (MACD) reading is only slightly positive at 0.02.
Classic pivot resistance sits at $4, followed by R2 near $4.85, with the 100-day SMA around $4.36 in between. Below the current price, the pivot point lies near $3.48, followed by the 200-day SMA around $3.41 and S1 near $2.63 (TradingView, 22 September 2026).
This is technical analysis for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any instrument.
Keel Infrastructure share price history (2024–2026)
In September 2024, KEEL’s stock price – then trading as Bitfarms – stood at around $2.05. A decline through Q4 2024 and Q1 2025 took the shares into the $1–$1.30 range by spring 2025, alongside weaker cryptocurrency-market conditions and pressure on bitcoin-mining economics.
The stock fell to around $0.75 in late June 2025 before recovering above $2 by year-end. Bitfarms then announced a strategic shift away from bitcoin mining, completing the transition on 1 April 2026 as it repositioned itself as an AI-focused digital-infrastructure developer.
Shares climbed during the first half of 2026 and reached a two-year high of $7.38 on 22 June, around the time of the company's inclusion in the Russell 3000. The price then fell through July and August. Q2 results released on 10 August showed a 50% drop in revenue from continuing legacy operations, alongside $819m in liquidity and a 2.2-gigawatt development pipeline.
The stock rose again in mid-September, moving from a monthly low of $3 to $4.04 by 22 September as the company joined the S&P Software & Services Select Industry Index.
Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.
Keel Infrastructure (KEEL): Capital.com analyst view
Keel Infrastructure's share price movements coincide with its shift from bitcoin mining to AI-focused data-centre development.
The company's $819m liquidity position may help fund its development plans, while signed leases or further progress across its 2.2-gigawatt pipeline could give investors more visibility over future revenue. These developments could support the share price if execution meets market expectations.
The risks run the other way. Much of the pipeline remains uncontracted, with no signed tenants publicly disclosed for the priority sites. Delays in securing customers, higher development costs or additional financing needs could weigh on the shares, particularly while revenue from legacy operations continues to decline.
Index inclusion may increase the stock's visibility and trading activity, but it does not alter the underlying economics of the business. Future price moves are therefore likely to depend heavily on how the data-centre strategy develops in practice.
Capital.com’s client sentiment for Keel Infrastructure CFDs
As of 22 September 2026, Capital.com client positioning in Keel Infrastructure CFDs shows 97.9% buyers and 2.1% sellers, a difference of 95.8 percentage points. This reflects open positions on Capital.com and can change over time. It does not indicate future price direction.
Summary – Keel Infrastructure 2026
- As of 9:14am UTC on 22 September 2026, KEEL traded near $4.05, within a $3.95–$4.21 intraday range.
- According to TradingView data, the price sat above its 20- and 50-day SMAs but below the 100-day SMA. RSI stood at 59.8, while ADX pointed to weak trend strength.
- Keel reported $819m in liquidity and a 2.2-gigawatt AI data-centre pipeline, although much of that capacity remains uncontracted.
Past performance is not a reliable indicator of future results.
FAQ
Who owns the most Bitfarms stock?
Bitfarms now trades as Keel Infrastructure Corp (KEEL) following its strategic shift away from bitcoin mining. The article does not identify the company's largest individual or institutional shareholder, so ownership should be checked against the latest regulatory filings or shareholder disclosures. Institutional positions can change over time, particularly around index changes, capital raises or portfolio rebalancing, so any ownership snapshot should be treated as time-specific rather than permanent.
What is the five-year Bitfarms share price forecast?
There is no five-year forecast in the article for Bitfarms, now Keel Infrastructure. The cited third-party sources focus on 12-month targets, with average estimates ranging from $6.25–$6.67 and individual forecasts spanning $3–$10. Longer-term forecasts would carry even more uncertainty because Keel is still transitioning towards AI-focused data-centre development. Tenant agreements, funding needs, development costs and execution could all materially affect future outcomes.
Is Bitfarms a good stock to buy?
Whether Bitfarms, now Keel Infrastructure, is a suitable stock depends on an individual's objectives, risk tolerance and view of the company's transition. The article highlights potential positives, including $819m in liquidity and a 2.2-gigawatt development pipeline, but much of that capacity remains uncontracted. The company has also reported widening losses. These factors may affect investors differently, so the article does not make a buy or sell recommendation.
Could Bitfarms stock go up or down?
Yes. Keel Infrastructure's share price could move in either direction as investors assess progress on its data-centre strategy. Signed tenants, development milestones or clearer revenue visibility could support the shares. By contrast, delays in lease execution, higher development costs, additional financing needs or weaker operating results could put pressure on the price. The stock has already shown substantial volatility during 2026, and past performance does not indicate how it will behave in future.
Should I invest in Bitfarms stock?
The article does not provide investment advice or recommend investing in Bitfarms, now Keel Infrastructure. Its purpose is to outline the company's recent performance, analyst forecasts and the factors that may influence its share price. These include liquidity, tenant agreements, development spending, funding requirements and declining legacy revenue. Anyone assessing the shares should consider their own circumstances and risk tolerance, while recognising that analyst forecasts can be inaccurate and future prices remain uncertain.
Can I trade Keel Infrastructure CFDs on Capital.com?
Yes, you can trade Keel Infrastructure CFDs on Capital.com. Trading share CFDs lets you speculate on price movements without owning the underlying asset and to take long or short positions. However, contracts for difference (CFDs) are traded on margin, and leverage amplifies both profits and losses. You should ensure you understand how CFD trading works, assess your risk tolerance, and recognise that losses can occur quickly.