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Keel Infrastructure KEEL Infrastructure Expenses — Cost Of Revenue

Other product segments

Depreciation And Amortization
$27.69M+50.1%
Energy Service
$21.11M+32.0%
Electrical Components And Salaries
$547K-37.6%

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Other financials

Income statement

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Revenue$37.0M-22.4%
Gross profit-$26.3M-9,631%
Operating income-$98.4M-182%
Net income-$145.4M-162%
EPS (diluted)-$0.24-118%

Balance sheet

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Cash & equivalents$357.3M+827%
Total debt$591.0M
Total equity$419.1M-36.6%
Total assets$1.1B

Cash flow

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Operating cash flow-$64.7M-243%
CapEx$10.3M-76.2%
Free cash flow-$75.0M-20.6%

Valuation

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Market cap$2.31B+87.6%
Enterprise value$2.54B
P/S15.3×

Profitability

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Gross margin-7.9%-2.8pp
Operating margin-37.8%+2.0pp
Net margin-52%+24.6pp
FCF margin-259.9%+201pp

Returns & leverage

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Return on equity-6.1%-2.5pp
Debt / equity1.4×
Current ratio9.6×

Where this comes from

Reported directly by Keel Infrastructure in its filing.

Tagged under the XBRL concept us-gaap:CostOfRevenue.

The source filing: Keel Infrastructure’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 7:00 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001213900-26-054166
Line itemThree months ended March 31, 2026Three months ended March 31, 2025
Energy expenses(21,114)(16,000)
Depreciation and amortization(27,694)(18,448)
Hosting expenses(7,735)
Infrastructure expenses(13,942)(4,315)
Electrical components and salaries(547)(877)
(63,297)(47,375)

Item 1. Financial Statements (Unaudited)

FAQ

What is Keel Infrastructure's infrastructure expenses — cost of revenue?
Keel Infrastructure (KEEL) reported infrastructure expenses — cost of revenue of $13.94M in Q1 2026.
How has Keel Infrastructure's infrastructure expenses — cost of revenue changed year-over-year?
Keel Infrastructure's infrastructure expenses — cost of revenue increased by 223.1% year-over-year, from $4.32M to $13.94M.
What does infrastructure expenses — cost of revenue mean?
This metric represents the direct costs associated with operating and maintaining the physical infrastructure required for cryptocurrency mining operations. It includes expenses such as electricity, facility maintenance, and hardware hosting costs directly attributable to the generation of hashing power. Monitoring this figure helps investors assess the operational efficiency and direct profitability of the company's mining fleet.

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