SWI Group Raises $894M to Pivot Genesis Digital from Bitcoin Mining to AI

Key Facts

1SWI Group raised 800 million euros ($894 million) to expand its AI infrastructure.

2The funds will be used to repurpose Genesis Digital Assets from bitcoin mining to AI-focused data centers.

SWI Group raised 800 million euros (approximately $894 million) to expand its artificial intelligence infrastructure. Reuters reported that the funds will be used to repurpose Genesis Digital Assets from bitcoin mining operations into data centers focused on AI.

The move aims to capitalize on the growing demand for AI infrastructure by pivoting away from traditional cryptocurrency mining operations. Genesis Digital Assets, an entity formerly linked to FTX, will see its facilities transitioned to support advanced AI-focused computing workloads.