SWI Group raises €800 million to convert Bitcoin mining facilities into AI infrastructure

TREE NEWS update: SWI Group has completed an €800 million (approximately $895 million) fundraising round to expand its AI infrastructure business. The company, which previously took control of Genesis Digital Assets — a bitcoin miner once backed by FTX — said it will retrofit several bitcoin mining facilities suitable for high-performance computing to serve AI workloads. The move marks a shift from traditional cryptocurrency mining to AI computing infrastructure.