The investment company SWI Group has successfully raised approximately $900 million in fresh capital as part of an ambitious strategy to rapidly scale its data center and artificial intelligence computing capacity. This major financial milestone incorporates a high-profile cryptocurrency mining operation previously tied to the now-defunct digital asset exchange FTX, marking a fascinating pivot for distressed crypto assets into the booming artificial intelligence infrastructure sector.
In an official notice released on Monday, SWI Group announced that the 800-million-euro funding round—equating to roughly $900 million—will be directly channeled into funding its expanding AI and data center development plans across Europe and the United States. Following this substantial capital injection, the group reportedly commands a valuation of $6.1 billion. More notably, the firm now holds majority control over one of the most prominent mining companies that was previously entangled in the sprawling corporate ecosystem of FTX: Genesis Digital Assets. This massive mining infrastructure is now being systematically integrated into SWI’s broader network of high-performance data centers and computing capacity.
The journey toward this integration has been unfolding over the course of several months. SWI initially announced back in June that it had acquired a significant shareholding in Genesis Digital Assets for $500 million. At the time of that initial transaction, corporate disclosures revealed that Genesis operated an impressive footprint consisting of 15 facilities boasting a combined 1.3 gigawatts of power capacity spread across the United States. Momentum continued to build throughout the summer, with the firm confirming in August that its equity stake in Genesis had grown to an imposing 70%. This controlling position granted SWI the authority to officially rebrand the mining venture under its own corporate umbrella as SWI Digital, signaling a strategic shift away from legacy digital currency mining toward enterprise-grade artificial intelligence and high-performance computing workloads.
The acquisition of Genesis Digital Assets represents a critical chapter in the complex aftermath of FTX’s catastrophic collapse. Genesis was heavily embroiled in the web of assets scrutinized by bankruptcy court debtors and legal teams as they sought desperately to claw back funds for creditors and investors. Historical records and bankruptcy filings indicate that former FTX CEO Sam Bankman-Fried had previously directed the exchange’s sister trading firm, Alameda Research, to pour more than $1 billion into acquiring a 20% stake in Genesis during the peak of the crypto bull market between 2021 and 2022.
When FTX abruptly filed for Chapter 11 bankruptcy protection in November 2022, it triggered a cascade of regulatory investigations, civil lawsuits, and criminal charges against top-tier executives over the systematic misuse and misappropriation of billions of dollars in customer funds. These legal entanglements cast a long shadow over many of the venture investments and subsidiary assets connected to the exchange. However, SWI’s co-founder and CEO, Max-Hervé George, has reportedly confirmed that all ongoing legal disputes, ownership challenges, and regulatory hurdles related to FTX’s historical stake in Genesis have now been fully resolved, clearing the path for SWI to integrate and operate the massive energy and compute portfolio without lingering legal threats from the bankruptcy estate.
The successful restructuring and repurposing of these former crypto assets highlight a broader, industry-wide trend where massive power-generation and data-processing facilities, initially constructed to mine Bitcoin and other proof-of-work cryptocurrencies, are being retrofitted to meet the insatiable computational demands of the generative artificial intelligence boom. With traditional data center markets facing severe constraints regarding power availability and grid access, the massive gigawatt-scale infrastructure built by companies like Genesis has become an exceptionally valuable commodity for institutional investors looking to deploy large-scale AI training and inference clusters.
As SWI Group moves forward with its newly acquired transatlantic footprint, the $900 million capital increase provides the financial muscle required to execute its long-term vision. By bridging the gap between traditional institutional finance and next-generation digital infrastructure, the firm is positioning itself as a major player in the global race to supply the physical and computational backbone required by the modern technology sector.
