Crypto miners are becoming a hot trade in the stock market, but it has nothing to do with crypto. Keel Infrastructure (KEEL 4.78%) is one of several crypto miners pivoting to AI infrastructure, and investors have noticed. The stock is up by 75% year to date and is approaching a $2.5 billion market cap.

Investors have seen other crypto miners like Iren (IREN 4.68%) and Cipher Mining (CIFR 5.95%) post substantial one-year gains. Keel, formerly Bitfarms, hasn’t missed out with its 260% gain during the past year, but it may be due for another rally.

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Keel has a 2.2 gigawatt pipeline

Gigawatts are the name of the game when it comes to providing AI infrastructure for tech giants. The more energy a crypto miner can…