Amsterdam-based SWI Group has acquired Genesis Digital Assets, rebranding the former Bitcoin mining firm as SWI Digital. The new owner intends to repurpose the company's existing power infrastructure for high-performance computing to support AI workloads, explicitly abandoning Bitcoin mining operations.
The acquisition process concluded in stages, starting with a $500 million investment in June 2026. By August 2026, SWI Group secured over 70% voting control. A legal dispute involving the FTX estate and Alameda Research, which previously invested $1.15 billion in the firm, was dismissed on June 15, 2026.
SWI Digital currently controls 1.3 GW of grid connections across 15 facilities in the US and Sweden. The company plans to divest its remaining mining assets in Kazakhstan. Combined with its AiOnX platform, the group reports a total power capacity of 3.6 GW, which it aims to market to hyperscalers.
On October 12, 2026, SWI Group announced an institutional capital raise of €800 million (approximately $894 million) at a valuation of €6.1 billion. This funding brings the total equity raised by the company since March 2026 to more than €1 billion, intended for data center expansion.
