SWI shifts Genesis Digital Assets from BTC mining to AI data centers

SWI Group, which took control of Genesis Digital Assets, a Bitcoin mining company backed by bankrupt crypto exchange FTX, is focusing on AI data centers rather than BTC mining, The Wall Street Journal reported. Max-Hervé George, SWI’s CEO, said in English, "비트코인 채굴에는 전혀 관심이 없다. 컴퓨팅 인프라를 확대하려면 자금이 필요하다" according to the report. According to WSJ, SWI is seeking to provide data centers in the U.S. and Sweden acquired through the Genesis Digital deal to major cloud operators, and has raised about $900 million to expand and upgrade those facilities. The group is also selling three BTC mining sites still located in Kazakhstan. Genesis Digital previously received more than $1 billion in investment from Alameda Research, an FTX affiliate, and became embroiled in litigation over the return of those funds after FTX collapsed. That lawsuit was dropped in June.