SWI Group Secures $900 Million to Scale AI Infrastructure Using Former FTX Mining Assets

Investment company SWI Group has successfully raised approximately $900 million in fresh capital as part of an ambitious strategy to scale its data center and artificial intelligence computing capacity. This major financial milestone incorporates a high-profile digital asset mining operation previously tied to the collapsed cryptocurrency exchange FTX, marking a striking pivot for distressed crypto infrastructure into the booming AI sector.

In a formal notice released on Monday, SWI Group announced that the capital raise—valued at 800 million euros, or roughly $900 million—will be directed toward funding its expanding AI and data center infrastructure plans spanning across Europe and the United States. Following this substantial institutional capital influx, the group now commands a final valuation of $6.1 billion. More notably, the financial maneuvering gives the firm majority control over one of the most substantial legacy mining companies associated with the FTX fallout: Genesis Digital Assets. This extensive network of mining facilities is now being repurposed and integrated into SWI’s broader transatlantic network of data center computing capacity, bridging the worlds of high-performance crypto infrastructure and the surging demand for artificial intelligence processing power.

The path toward this integration has been unfolding over the course of the year. SWI initially announced in June that it had acquired a "significant shareholding" in Genesis Digital Assets for $500 million. At the time of that announcement, corporate disclosures indicated that Genesis operated an impressive footprint consisting of 15 distinct facilities boasting a combined 1.3 gigawatts of power capacity primarily located within the United States. Building upon that initial investment, the firm confirmed in August that its equity stake in Genesis had grown to 70%, cementing its controlling interest and prompting a rebranding of the mining venture to SWI Digital to reflect its new operational direction under the SWI umbrella.

The acquisition of Genesis Digital Assets carries considerable historical context, as the venture was deeply embroiled in the spectacular collapse and subsequent bankruptcy proceedings of FTX. Before the exchange imploded in late 2022, former FTX CEO Sam Bankman-Fried reportedly directed the exchange’s sister trading firm, Alameda Research, to deploy more than $1 billion to acquire a 20% equity stake in Genesis between 2021 and 2022. When FTX abruptly filed for Chapter 11 bankruptcy in November 2022, it touched off a sprawling global financial cleanup. The ensuing legal fallout resulted in criminal convictions and severe prison sentences for numerous top executives due to the widespread misuse and commingling of customer funds.

As bankruptcy administrators and court-appointed debtors sought to claw back billions of dollars in lost assets to satisfy creditors, the ownership stakes held by FTX and Alameda Research became the subject of intense scrutiny and complex legal negotiations. However, according to statements made by SWI’s co-founder and CEO, Max-Hervé George, all lingering legal disputes, ownership claims, and complications related to FTX’s historical stake in Genesis have now been fully resolved, clearing the path for SWI to integrate the assets smoothly into its high-growth digital infrastructure portfolio.

The transformation of Genesis Digital Assets from a pure cryptocurrency mining enterprise into a critical backbone for AI computing capacity highlights a broader, macroeconomic shift currently taking place across the technology and energy sectors. As the explosive growth of generative artificial intelligence drives unprecedented demand for specialized data center space, power-dense locations previously built out for proof-of-work digital asset mining are finding lucrative new leases on life. With massive power allocations and established electrical infrastructure, former crypto mining sites are increasingly viewed by institutional investors as prime real estate for the massive server clusters required to train and run modern AI models.

With the fresh injection of $900 million in institutional capital and the final valuation settled at $6.1 billion, SWI Group is uniquely positioned to accelerate its transatlantic expansion. The company’s leadership intends to deploy these resources to modernize and scale its newly acquired portfolio, transforming legacy crypto infrastructure into a robust engine for European and American AI innovation. As the integration of SWI Digital proceeds following the resolution of FTX-era legal hurdles, the transaction stands out as one of the most notable examples of distressed digital assets being successfully salvaged and repurposed to meet the demands of the next generation of computing technology.