# SWI Group Raises $900 Million to Expand AI Data Centers Using Former FTX Mining Sites

- URL: https://stocks.freetheai.org/news/swi-group-raises-900-million-to-expand-ai-data-centers-using-former-ftx-mining-0e2d40
- Published: 2026-10-12T21:11:26Z
- Category: company_news; sentiment: neutral; impact: medium
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
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Investment firm SWI Group raised 800 million euros, or roughly $900 million, to expand its artificial intelligence and data center operations across Europe and the United States. A major component of this expansion includes Genesis Digital Assets, a bitcoin mining company previously backed by the collapsed cryptocurrency exchange FTX. SWI Group took a 70 percent controlling stake in Genesis, which it originally invested $500 million into in June, and rebranded the entity to SWI Digital.

The move highlights a growing trend of repurposing cryptocurrency mining infrastructure for high-demand AI computing tasks. Genesis operated 15 facilities providing 1.3 gigawatts of capacity, giving SWI substantial power resources to support its artificial intelligence infrastructure. The transition also marks the resolution of legal complications stemming from FTX, where former leadership directed over $1 billion into Genesis before FTX filed for bankruptcy in November 2022.

With all legal disputes involving the FTX bankruptcy estate now settled according to SWI Chief Executive Officer Max-Hervé George, attention turns to how quickly SWI can convert the crypto mining sites into operational AI data centers across its US and European network.

## Key points

- SWI Group raised approximately $900 million to fund AI and data center expansions in Europe and the US.
- The expansion relies on Genesis Digital Assets, a former FTX-linked crypto mining firm now named SWI Digital.
- SWI acquired a 70 percent controlling stake in Genesis, which holds 15 facilities with 1.3 gigawatts of capacity.
- Legal disputes regarding FTX's earlier $1 billion investment in Genesis have been fully resolved.

## Questions and answers

### How much money did SWI Group raise for AI expansion?

SWI Group raised 800 million euros, or approximately $900 million, to scale its data center and AI computing capacity across Europe and the United States.

### What is the connection between SWI Group and FTX?

SWI Group acquired a 70 percent majority stake in Genesis Digital Assets, a crypto mining business where FTX formerly invested over $1 billion. All legal disputes related to FTX's stake have been resolved.

### How much power capacity does Genesis Digital Assets have?

Genesis Digital Assets operates 15 facilities with a combined power capacity of 1.3 gigawatts.