Keel Infrastructure Corp's stock plummeted 10.08% during intraday trading on Monday, following the release of its first-quarter 2026 financial results that significantly missed analyst expectations.

The sharp decline was driven by a dual miss on both earnings and revenue. The company reported a loss from continuing operations of $0.21 per share, which was 162.5% worse than the consensus estimate of a $0.09 loss. Revenue for the quarter came in at $37 million, falling short of market expectations and representing a 23% decrease compared to the same period last year.

Furthermore, the company's operating loss widened substantially to $98 million from $35 million in the prior-year period, reflecting increased costs and challenges in its ongoing strategic transformation from Bitcoin mining to high-performance computing infrastructure in North America.