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SWI raises $894 million to repurpose former FTX bitcoin miner Genesis Digital to AI
CoinDesk·October 12, 2026·1 min read
AI Summary
SWI Group has raised $894 million to convert Genesis Digital Assets, purchased from the FTX bankruptcy estate, from a bitcoin mining operation into an AI-focused data center. The transformation represents a strategic shift from cryptocurrency mining to capitalizing on the growing demand for AI infrastructure and computing resources.
From the source
SWI Group said it would use the proceeds from an 800 million-euro ($894 million) fundraise to transform Genesis Digital Assets, acquired from the FTX bankruptcy, from a bitcoin miner to an AI-focused data center.
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