Keel Infrastructure Corp.

Active negotiations at three sites with deepening commercial engagement

Projected

a first HPC lease at one of Panther Creek, Sharon or Moses Lake, no date stated

Actual

unresolved as of 2026-09-06: no lease signed, and all U.S. bitcoin mining has been decommissioned ("Completed the decommissioning of all U.S. Bitcoin mining operations in preparation for HPC site construction"). as of 2026-08-10

Variance

not resolved

Said in 8-K EX-99.1 2026-08-10 (Q2 2026 results), grade verified. Outcome from 8-K EX-99.1 2026-08-10 (Q2 2026 results), grade verified.

Bitfarms Announces U.S. Redomiciliation Plan and Intent to Rebrand as Keel Infrastructure

Projected

redomicile to the United States and rebrand as Keel Infrastructure, by 2026 (no date given)

Actual

Met: shareholders approved on 2026-03-20 and the rebrand and redomiciliation completed on 2026-04-01 ("Bitfarms Officially Rebrands as Keel Infrastructure; Completes U.S. Redomiciliation"). as of 2026-04-01

Variance

not computed

Said in 8-K EX-99.1 2026-02-06, grade verified. Outcome from 8-K EX-99.1 2026-04-01, grade verified.

Through its expansion projects and the investment in its transformative fleet upgrade, the Company achieved its target of 21 w/TH before the end of 2024 and is executing towards its revised targets of 18 EH/s operational and 21 EH/s and 19 w/TH installed by June 30, 2025.

Projected

18 EH/s operational, 21 EH/s installed, 19 w/TH by 2025-06-30, by 2025-06-30

Actual

Missed and withdrawn: the Q2 2025 release reports "an ending EH/s of 17.7 EHuM and efficiency of 17 w/TH, inclusive of Argentina shut down", and the company states "With the shutdown of the Argentina facility, it is no longer feasible to achieve the 21 EH/s target on the Company's originally anticipated timeline. The Company currently has no plans to increase its hashrate." as of 2025-08-12

Variance

-1.7%from 18 EH/s projected against 17.7 EH/s reported

Said in 6-K EX-99.2 2025-03-27 (MD&A for the year ended 2024-12-31, as Bitfarms), grade verified. Outcome from 6-K EX-99.1 2025-08-12 (Q2 2025 results, as Bitfarms), grade verified.