The investment resuscitates a business that appeared essentially abandoned after the fall of the empire led by Sam Bankman-Fried, The Wall Street Journal reported. SWI Group's acquisition follows a broader industry trend of converting high-power computing sites into the specialized infrastructure required for AI training and inference.
Tuesday, October 20, 2026
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SWI Group Raises €800M to Convert FTX Mining Assets to AI Data Centers
AI9 days ago
Genesis Digital Assets will be transformed from a crypto mining operation into a network of hubs for artificial intelligence compute. SWI Group is investing €800 million to repurpose the facility's energy and cooling infrastructure to support the capacity needs of AI firms, utilizing assets that stalled after the collapse of the cryptocurrency exchange FTX.
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