SWI Group has raised 800 million euros (approximately $894 million) in funding for AI computing and data-center expansion in Europe and the United States, as it prepares to convert facilities belonging to bitcoin miner Genesis Digital Assets to AI workloads.

The institutional fundraising values the Euronext Amsterdam-listed investment firm at about 6.1 billion euros, according to CoinDesk’s October 12, 2026 report. SWI focuses on digital infrastructure.

The financing follows SWI’s purchase of approximately 40% of Genesis Digital Assets for $500 million in June. The acquisition closed in August, when the business became SWI Digital. SWI holds 70% of its voting rights, giving it control despite its smaller equity stake.

SWI’s AI computing funding backs a shift away from mining

SWI plans to adapt Genesis Digital’s facilities in the United States and Sweden for AI workloads and sell its sites in Kazakhstan.

CEO Max-Hervé George told the Wall Street Journal that he has “zero interest” in bitcoin mining.

The report places SWI’s strategy within a broader shift among bitcoin miners toward artificial intelligence and high-performance computing. These businesses are repurposing electricity connections and data-center capacity in pursuit of steadier income, rather than depending solely on cryptocurrency mining. The report puts their signed AI and high-performance computing contracts at more than $70 billion.

Among the notable chapters in Genesis Digital’s past is the significant funding it received from Alameda Research, the crypto trading firm once headed by Sam Bankman-Fried. Alameda began investing in the miner in 2021, committed more than $1 billion, and held approximately 20% before FTX filed for bankruptcy in November 2022.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.