SWI raises $894 million to repurpose former FTX bitcoin miner Genesis Digital to AI

SWI Group (SWICH), which controls the former FTX-owned bitcoin BTC $83,696.96 miner Genesis Digital Assets, said it raised 800 million euros ($894 million) from institutional investors to expand its data center and artificial intelligence (AI) computing data-center projects in Europe and the U.S. The Euronext Amsterdam-listed company, an investment firm concentrating on digital infrastructure, said the capital increase values it at 6.1 billion euros . It announced the purchase of about 40% of Genesis Digital in June for $500 million, completing the acquisition in August with 70% of the voting rights and renaming the unit SWI Digital.