SWI raises $894M to turn FTX-acquired miner Genesis Digital into AI

SWI Group has raised €800 million ($894 million) from institutional investors to transform Genesis Digital Assets — the bitcoin miner it acquired out of the FTX bankruptcy — from a mining operation into an AI-focused data center business. The proceeds will expand data-center and AI-compute projects in Europe and the U.S., SWI said.

• The conversion repurposes one of the largest miners bought from the FTX estate this year.
• No specifics on facility locations, capacity targets or timeline were disclosed.