u/FederalSpecialist358

Translate: August 1st marked the environmental clearance to commence the construction phase.

Not financial advice, just sharing my thesis on a deep value pivot I have been building out.

My Position (Jan 15, 2027 LEAPs)

1,570 contracts on the $10 strike
212 contracts on the $5 strike
40 contracts on the $12 strike

I opened my main position back in February 2026. After the initial rally, we got a pullback, so I added another 20% to my position to stack up. Right now it is sitting around $4 to $5, which I think is a massive mispricing for what is actually happening behind the scenes. But what do I know, I was up over $400K in June.

Why KEEL is copying IREN from last summer

If you were trading last summer around August 2025, you remember what happened with IREN (Iris Energy). It was sitting under $5 a share for months because everyone viewed it as just another Bitcoin miner.

Then the market finally woke up to how valuable their power capacity was for AI and HPC workloads. As soon as Wall Street realized they had energized megawatts ready for big tech, the stock shot up from under $5 to over $20 in a hurry.

KEEL (formerly Bitfarms, now Keel Infrastructure) is literally following the exact same script:

Old model: Standard Bitcoin miner

New model: Strategic pivot to HPC and AI data center hosting

Power assets: Prime infrastructure in Pennsylvania, Washington (Moses Lake), and Quebec

Current Price: Still stuck in the $4 to $5 range

Target: $13+ by October

First Lease Announcement Incoming at Earnings (Don't @ me bro)

Look at the timeline and site progress. They are set to drop their first official AI/HPC lease execution announcement right around upcoming earnings. Don't @ me bro, but when you look at who is starving for gigawatt power right now, the probable tenant list is pretty obvious.

Management has explicitly stated they are targeting investment-grade counterparties and credit-wrapped leases. That points directly to two main candidate groups:

Tier-1 Hyperscalers: Big tech names like Microsoft, Amazon AWS, Google, or Oracle who are out of grid capacity and scrambling for power.

Major AI Neoclouds: High-growth GPU cloud providers like CoreWeave, Lambda Labs, or Nebius who need powered shells delivered as fast as humanly possible.
In this sector, Wall Street values companies with signed leases at 2x to 3x higher per megawatt than uncontracted power. A single tier-1 lease signing instantly forces the market to re-rate the entire stock.

Why $13+ by October?

1. Power Bottlenecks: Power is the primary bottleneck for AI, and KEEL holds real estate with grid access that hyperscalers desperately need.
2. Real AI Leadership: Bringing in Ganesh Aiyer from Digital Realty was specifically done to negotiate and close these massive enterprise leases.
3. Valuation Multiplier: The market always lags when a miner pivots to AI, but once that lease hits the wire, the price repricing happens in days, not months.

Bottom Line

When a miner successfully pivots to AI infrastructure, the repricing does not happen slowly. It happens all at once. I bought the initial move in February, backed up the truck by 20% during this recent pullback, and I am holding long-dated Jan 2027 LEAPs while waiting for that first lease drop to send this to $13+.

TL;DR: Loaded up on Jan 2027 calls ($5, $10, and $12 strikes). KEEL is following the 2025 IREN playbook. Expecting their first lease deal to be announced during earnings with either a major Hyperscaler (AWS/Microsoft/Oracle) or Neocloud (CoreWeave/Lambda). Target: $13 or higher by October. 🚀

Back in February, everyone just saw a bleeding crypto miner. They missed the real prize: massive, pre-approved utility-scale power allocations.

​The critics keep crying that Keel isn’t comparable to comps like Iren and Cipher because there isn’t a signed tech lease on the board yet. They’re completely wrong. The valuation disconnect is an absolute joke... Keel sits on a staggering 2.2 GW pipeline at a modest $2.5B market cap while the comps command massive, multi-billion-dollar premiums. Wall Street is finally waking up anyway, with H.C. Wainwright bumping their target to $5.50 and consensus crawling toward $7-$8 as firms drop crypto multiples for tech infrastructure premiums.

​The street thinks things will drag into Q3 or Q4, but June is going to bring a massive power demand frenzy as summer heat hits and hyper-scale AI models choke the utility grids. Honestly, I’m glad Ben didn’t jump the gun signing an early lease for cheap just to appease the markets. There is an insatiable demand for gigawatt capacity right now and almost zero supply of high-voltage power left unsigned. Basic economics tells you exactly what happens next: the lower the supply and higher the demand, the more the price for that product goes vertical. By holding out, Ben ensured Keel commanded maximum premium leverage.

​With zoning locked down at Panther Creek, Sharon, and Moses Lake, and a $533M liquidity cushion completely erasing dilution risk, management is moving way faster than people realize. I expect that first major tier-1 tech lease to drop in June.

​The shorts are trapped, dark pools show heavy whale accumulation, and the options chain is a powder keg stacked at the $5 and $10 lines. I’ve held Jan 2027 LEAPS since the floor in February. The haters are gonna hate because they missed the bottom and can't see the big picture, but the thesis is rock solid. This sideways grinding above $4 is just the launchpad.

It's a great day to be great.