SWI Group raised 800 million euros ($894 million) from institutional investors to repurpose Genesis Digital Assets, formerly a bitcoin miner acquired from FTX's bankruptcy, into AI-focused data centers in the U.S. and Sweden. The company plans to sell off Genesis's Kazakhstan sites and shift its business model from bitcoin mining to AI and high-performance computing, reflecting a broader industry trend. This pivot aims to leverage existing power and data center infrastructure for more stable revenue streams amid declining bitcoin mining profitability. SWI's strategy aligns it with other miners converting capacity to AI workloads, signaling a significant shift in digital infrastructure investment.
SWI Group's recent €800 million fundraise to convert a bitcoin mining operation into AI data centers provides context for digital infrastructure shifts. For readers following the cryptocurrency market, here is Pluang's market snapshot as of Oct 12, 2026 17:41 WIB: out of 50 major cryptocurrencies, 37 rose and 12 fell. Notable movers include CAKE (PancakeSwap) at Rp42.592 with a 1-day change of +6.58%, ONE (Harmony) at Rp35 with -4.83%, and ZIL (Zilliqa) at Rp66 with +4.45%.
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