Financing Round and Valuation

SWI Group completed an institutional capital increase of €800 million, equivalent to $894 million at prevailing exchange rates. The transaction values the company at 6.1 billion euros. Proceeds will accelerate expansion of its AI and data-center operations across Europe and the United States.

The funds support upgrades and new capacity for major cloud-service providers. SWI Group plans to leverage its existing grid connections and sites rather than develop greenfield projects.

Strategic Acquisition of Genesis Digital Assets

In June 2026 SWI Group acquired a significant stake in Genesis Digital Assets for $500 million. The company took control in August with more than 70 percent of the voting rights and rebranded the unit SWI Digital. The deal gave SWI combined AI-ready infrastructure capacity of 3.6 gigawatts across 15 sites.

Genesis Digital Assets held 1.3 gigawatts of energized and approved grid connections. Most facilities are located in the United States and Sweden, with several large-scale sites in Texas. SWI Group is repositioning the infrastructure, originally built for Bitcoin mining, for AI workloads.

Pivot from Bitcoin Mining to AI Infrastructure

SWI Group is selling its remaining Bitcoin mining assets in Kazakhstan. It will use U.S. and Swedish facilities to supply computing capacity to major cloud-service providers. The strategy marks a broader industry shift in which Bitcoin miners convert power capacity and data-center sites into higher-value AI and high-performance computing opportunities.

The move follows SWI’s acquisition of a controlling stake in Genesis Digital Assets, a company that had received more than $1 billion from Alameda Research between 2021 and 2022. The FTX bankruptcy estate had sought to recover approximately $1.15 billion tied to the investment but withdrew the lawsuit in June 2026.

Industry Context and Industry-Wide Transition

Bitcoin miners have signed more than $70 billion in AI and high-performance computing contracts in recent years. Companies such as TeraWulf and Core Scientific have similarly leased sites and power connections for AI hosting while scaling back or exiting traditional mining.

SWI Group CEO Max-Hervé George described the transition as the highest and best use of legacy cryptocurrency infrastructure. “Power connectivity is the most valuable commodity in digital infrastructure today, and converting legacy cryptocurrency mining infrastructure to AI and high-performance computing is the best and highest use of these assets,” he said.

Current Operations and Future Plans

SWI Digital will continue to develop its transatlantic AI infrastructure platform. Facilities in Texas, North Carolina, South Carolina and Sweden will serve cloud providers. The company has no interest in returning to Bitcoin mining.

The repositioning of Genesis Digital Assets’ sites is expected to support steady revenue streams for AI demand without requiring new power generation projects.