SWI Group raised €800 million for AI infrastructure development

SWI Group has raised €800 million from institutional investors to expand AI infrastructure in Europe and the US following the acquisition of bitcoin miner Genesis Digital Assets. The company, whose shares are traded on Euronext Amsterdam, will allocate the funds to data centers, energy infrastructure, and computing power. According to TheEnergyMag, the deal values SWI at €6.1 billion. The total capital raised since March 2026 has exceeded €1 billion.

A key part of the strategy is the reorientation of mining sites towards high-performance computing and AI tasks. In August, SWI completed the acquisition of more than 70% stake in Genesis Digital Assets, renamed SWI Digital. The company has sites and grid connections in the US, which it intends to offer to major cloud providers. Three small bitcoin farms in Kazakhstan are up for sale. Simultaneously, the group is developing the European AI platform AiOnX. SWI claims a portfolio capacity of more than 4 GW, but this figure includes secured connections and planned capacities, not operational AI clusters. The company also plans to create a cloud platform for GPU computing.

Genesis Digital found itself at the center of the FTX collapse story: Alameda Research, Sam Bankman-Fried's trading company, invested about $1.15 billion in the mining business in 2021–2022. After FTX's bankruptcy, the managers filed a lawsuit demanding the return of the investments, claiming that the funds were misappropriated and assets were purchased at inflated prices. In June 2026, the FTX Recovery Trust withdrew all claims. On the same day, SWI announced an initial investment in Genesis Digital of $500 million.

In the first half of the year, public mining companies wrote off about $1.1 billion in asset value amid the transition to AI. The combined hash rate of this category decreased by 56 EH/s (15%) over six months.