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SWI raises $894 million to convert Genesis Digital to an AI data center

SWI Group said the 800 million-euro raise will repurpose Genesis Digital Assets, previously acquired from the FTX bankruptcy, from bitcoin mining to AI-focused data center operations.

Reported · Written up by our desk · Market Structure

SWI Group said it plans to use proceeds from a fundraise of 800 million euros, about $894 million, to repurpose Genesis Digital Assets.

According to CoinDesk, the company acquired Genesis Digital Assets from the FTX bankruptcy and plans to shift its business from bitcoin mining to building AI-focused data center capabilities.

SWI said the effort is aimed at transforming Genesis Digital into an AI-oriented operator rather than a crypto mining business.

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