FTX’s former Bitcoin mining bet gets new life as parent raises €800 million for AI

SWI Group has raised €800 million to expand AI infrastructure, advancing its plan to repurpose FTX-backed Bitcoin miner Genesis Digital Assets. On Oct. 12, the Amsterdam-listed company announced a capital increase backed by institutional investors, valuing the group at €6.1 billion and bringing total equity raised since March above €1 billion. The financing will support data-center development, power infrastructure and computing deployments across Europe and the United States, where SWI is converting its digital infrastructure portfolio toward artificial intelligence and high-performance computing.