Keel Infrastructure KEEL
NASDAQ KEEL
$3.57 +0.13 (+3.78%)
At close: Sep 11, 2026 · 4:00 PM EDT

Keel Infrastructure (KEEL) Cost of Revenue (2020 - 2026)

Keel Infrastructure's (KEEL) quarterly Cost of Revenue came in at $117.2 million in Q2 2026, up 80.85% year-over-year from $64.8 million in Q2 2025, and up 85.13% quarter-over-quarter from $63.3 million in Q1 2026.

Analysis

Keel Infrastructure (KEEL) Cost of Revenue (2020 - 2026) Analysis & Trends

Keel Infrastructure (KEEL) has reported Cost of Revenue for 7 consecutive years, with $117.2 million the latest figure, recorded in Q2 2026.

  • On a quarterly basis, Cost of Revenue rose 80.85% year-over-year to $117.2 million in Q2 2026; TTM through Jun 2026 was $319.1 million, a 59.75% increase from a year earlier, with the FY2025 full-year figure at $248.2 million, up 66.36% from the prior year.
  • Cost of Revenue was $117.2 million for Q2 2026 at Keel Infrastructure, up from $63.3 million in the prior quarter.
  • Over five years, Cost of Revenue peaked at $117.2 million in Q2 2026 and troughed at $23.3 million in Q1 2022.
  • A 5-year average of $51.8 million and a median of $44.5 million in 2023 frame the typical range for Cost of Revenue.
  • Across the five-year window, Cost of Revenue jumped 155.39% in 2022 and slumped 33.11% in 2024, its largest moves.
  • Over 5 years, Cost of Revenue stood at $39.1 million in 2022, then increased by 13.71% to $44.5 million in 2023, then climbed by 23.14% to $54.8 million in 2024, then climbed by 21.4% to $66.5 million in 2025, then soared by 76.23% to $117.2 million in 2026.
  • The last three Cost of Revenue figures came in at $117.2 million (Q2 2026), $63.3 million (Q1 2026), and $66.5 million (Q4 2025), per Business Quant data.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Bitmine Immersion Technologies 57.18 Bn 56.84 Bn 40.81 Mn 5.73 Mn
2 Iren 33.35 Bn 25.78 Bn 103.89 Mn 33.34 Mn
3 Hut 8 12.15 Bn 5.67 Bn 48.04 Mn 26.89 Mn
4 Riot Platforms 8.12 Bn 7.57 Bn 84.97 Mn 89.26 Mn
5 Argo Blockchain 6.30 Bn 6.30 Bn - -
6 MARA Holdings 4.58 Bn 4.22 Bn - -
7 Cleanspark 3.51 Bn 3.30 Bn - 85.48 Mn
8 Bitdeer Technologies 2.82 Bn 2.36 Bn -8.53 Mn 237.31 Mn
9 Keel Infrastructure 2.20 Bn 2.20 Bn -86.75 Mn 117.18 Mn
10 HIVE Digital Technologies 831.06 Mn 592.03 Mn -29.49 Mn 108.61 Mn
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 117.18 Mn
Mar 31, 2026 63.30 Mn
Dec 31, 2025 66.50 Mn
Sep 30, 2025 72.13 Mn
Jun 30, 2025 64.79 Mn
Dec 31, 2024 54.78 Mn
Sep 30, 2024 29.07 Mn
Jun 30, 2024 51.11 Mn
Mar 31, 2024 61.12 Mn
Dec 31, 2023 44.48 Mn
Sep 30, 2023 43.46 Mn
Jun 30, 2023 41.52 Mn
Mar 31, 2023 38.40 Mn
Dec 31, 2022 39.12 Mn
Sep 30, 2022 37.19 Mn
Jun 30, 2022 32.31 Mn
Mar 31, 2022 23.29 Mn
Dec 31, 2021 20.61 Mn
Sep 30, 2021 15.31 Mn
Jun 30, 2021 13.33 Mn