Switch to seedless. Get 30% off with SWITCH30 till Oct 21SWI Group raises €800M to transform mining sites for AI
6.8 Investments SWI Group raised €800M to convert Genesis Digital’s bitcoin mining sites into AI data centres, focusing on power infrastructure and cloud partnerships in the US and Europe.
SWI Group, a digital infrastructure company based in Singapore and listed in Amsterdam, has secured €800 million from institutional investors at a €6.1 billion valuation. This funding will accelerate the transformation of Genesis Digital Assets—formerly a Bitcoin miner—into artificial intelligence (AI) data centres. The capital will be allocated to power infrastructure, compute deployments, and development projects across Europe and the US. Genesis Digital’s 1.3 gigawatts of energized and approved grid connections at 15 facilities are central to this strategy. SWI is now marketing these sites in Texas, North Carolina, South Carolina, and Sweden to hyperscale cloud providers, marking a shift away from bitcoin mining. Since March, SWI’s total equity raised has surpassed €1 billion, and its infrastructure footprint, including the AiOnX European platform, now exceeds 3.6GW. The acquisition of Genesis Digital included a significant shareholding and liquidation preference, making SWI the majority owner. This strategic shift leverages grid access as a key asset for AI and high-performance computing workloads.
