Keel Infrastructure Corp. (NASDAQ:KEEL, TSX:KEEL) (the "Company" or "Keel"), a North American digital infrastructure and energy company, today announced an update on its data center project in Sherbrooke, Québec. The Company has received approval from the City of Sherbrooke to enter into an agreement with Hydro-Sherbrooke for the transfer and operation of 96 MW of existing capacity, as well as a purchase agreement for a parcel of land on which to develop the data center. The transfer of the energy capacity to the new site is now subject to review and approval by Quebec’s Ministry of Economy, Innovation and Energy (MEIE).

Power Agreement

The agreement reached with Hydro-Sherbrooke will allow Keel to consolidate the power from three of its current Bitcoin mining sites into one 96 MW campus. The Company did not request any additional power, which maximizes the use of current electrical infrastructure and allows the project to move forward in line with Québec's current energy priorities. Keel also received approval to recategorize the use of its 96 MW from BTC mining to HPC/AI.

Land Purchase Agreement

Keel has also entered into a purchase agreement to acquire a parcel of land approximately 100 miles east of Montréal. The purchase agreement is subject to customary conditions, including site inspections, feasibility analysis, and municipal approvals, and is expected to close in the first quarter of 2027.