Keel stock jumps 10% after hiring data-center veteran

Keel Infrastructure shares rose 10% in the first hour of trading on Monday after the Nasdaq-listed company appointed Ganesh Aiyer as president. He will oversee commercial and pipeline expansion for Keel's AI and high-performance computing business.

Aiyer joins Keel from Digital Realty, where he served as chief business officer and led commercial strategy and data center operations for hyperscale, cloud and enterprise customers. His LinkedIn profile lists prior senior roles at Schneider Electric and Dell Technologies.

Keel said in a company release that Aiyer will lead the firm's commercial and pipeline expansion activities as it scales AI and high-performance computing infrastructure.

Ben Gagnon, Keel's CEO, praised Aiyer's track record in the release and wrote on X that Aiyer had “executed at the highest level for two decades at one of the world's largest data center platforms.” Gagnon described Aiyer's role as supporting Keel's expansion in high-performance computing and AI infrastructure.

Keel rebranded from Bitfarms on April 6 as it shifted away from bitcoin mining. In its first earnings report under the Keel name in May, the company reported a $145 million net loss for the first quarter while it restructured operations, exited Latin America and redirected capital to develop AI infrastructure in North America. At that time Keel reported about $533 million in liquidity available for new projects.

Shares have gained more than 120% since the April rebrand. Monday's 10% increase followed the appointment and came while the company continues to record transition-related costs.

Aiyer's remit at Keel will include expanding commercial efforts and building the company's project pipeline for AI and high-performance computing offerings.