FTX’s crypto mining venture is now used to advance AI

The defunct exchange acquired a 20% stake in Genesis Digital Assets before FTX declared bankruptcy in November 2022. The investment company SWI Group has raised about $900 million in capital as part of plans to scale its data center and AI computing capacity, which includes a mining operation previously tied to cryptocurrency exchange FTX. In a Monday notice, SWI Group said the 800-million-euro, or about $900 million, capital raise would fund its AI and data center expansion plans in Europe and the United States.