SWI raises $894M to pivot ex-FTX miner Genesis Digital to AI data centers
Oct 12th, 2026
SWI Group completed an 800M euro ($894M) institutional capital raise, valuing the company at 6.1B euros. SWI acquired ~70% voting rights in Genesis Digital Assets — formerly owned by FTX — in August, renaming it SWI Digital. The company will sell its Kazakhstan mining sites and repurpose US and Swedish facilities for AI workloads. CEO Max-Hervé George said he has "zero interest" in bitcoin mining.
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