SWI Group raises $894M to convert Genesis Digital Assets to AI data centers
CIE News ·
SWI Group raised 800 million euros ($894 million) to repurpose former FTX-backed bitcoin miner Genesis Digital Assets into an AI data center provider, valuing the firm at 6.1 billion euros, according to CoinDesk.
SWI Group raised 800 million euros ($894 million) from institutional investors to convert former FTX-backed Bitcoin (BTC) miner Genesis Digital Assets into AI data centers, CoinDesk reported. The capital raise values the Euronext Amsterdam-listed infrastructure investment firm at 6.1 billion euros. SWI acquired approximately 40% of Genesis Digital in June 2026 for $500 million and finalized the acquisition in August 2026 with 70% of voting rights, rebranding the business as SWI Digital.
The company plans to offload its Genesis Digital Assets sites in Kazakhstan while converting facilities in the United States and Sweden to run AI workloads. CoinDesk reported that SWI CEO Max-Hervé George stated he had "zero interest" in bitcoin mining, aligning with a broader sector shift where miners repurpose energy connections and data-center capacity for high-performance computing.