KEEL has secured city approval for a 96 MW AI campus in Sherbrooke, Quebec. The campus will consolidate three former Bitcoin mining sites. The approval, announced this week, marks a strategic pivot from cryptocurrency to AI and could boost Quebec's prominence in data centers and economic growth.
The three former mining sites
The campus brings together three facilities that once housed Bitcoin mining operations. KEEL didn't disclose the exact locations or the previous operators, but the consolidation suggests a shift in how the company views its infrastructure. Instead of chasing crypto cycles, it's betting on AI compute demand — a market that's been growing steadily in 2026.
A strategic pivot
This isn't just a rebrand. Moving from Bitcoin mining to AI hosting changes the business model entirely. Mining revenue depends on coin prices and network difficulty; AI compute contracts are longer-term and less volatile. KEEL's move reflects a broader trend among former mining operators looking for more predictable revenue streams. The Sherbrooke campus is one of the larger conversions in Quebec so far.
Quebec's data center ambitions
Quebec has been pushing to attract data centers, thanks to cheap hydroelectric power and a cool climate. The province already hosts several large facilities. The KEEL project could strengthen that position. Local officials in Sherbrooke have been supportive, citing job creation and tax revenue. The city's approval came after a review process that included environmental and grid capacity assessments.
What comes next
KEEL now needs to finalize construction plans and secure equipment. The timeline for completion hasn't been announced, but the company has said it expects to start operations in phases. The campus will likely target AI training workloads, which require massive parallel processing. For Sherbrooke, the project means a new anchor tenant for its industrial parks. For KEEL, it's a bet that AI demand will keep growing — and that former mining sites can find a second life.
