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bitcoin newsOct 12, 2026AI summary

SWI Raises $894 Million to Shift Genesis Digital Assets Toward AI

SWI Group plans to use an €800 million fundraise to convert bitcoin miner Genesis Digital Assets into an AI-focused data center.

SWI Raises $894 Million to Shift Genesis Digital Assets Toward AI

SWI Group has raised €800 million ($894 million) to fund a shift from bitcoin mining to artificial intelligence infrastructure, according to CoinDesk.

The group said the proceeds would support the conversion of Genesis Digital Assets into a data center focused on AI workloads.

Genesis Digital Assets was acquired through the FTX bankruptcy process. The planned conversion would change the operation’s focus from mining bitcoin to serving AI computing needs.

Source: CoinDesk

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