SWI Group Raises 800 Million Euros to Convert FTX-Backed Miner Into AI Data Centers
Institutional investors backed the capital increase as SWI shifts former bitcoin-mining sites into data center and AI compute facilities, with total equity raised since March topping €1 billion.
- On Monday, Oct. 12, 2026, Euronext Amsterdam-listed SWI Group announced an €800 million capital increase, valuing the company at €6.1 billion to accelerate its transatlantic AI infrastructure and compute platform.
- SWI CEO Max-Herv told the Wall Street Journal he has "zero interest" in Bitcoin mining, reflecting the company's strategic pivot toward repurposing data-center sites for high-performance AI computing.
- Bitcoin miners have signed more than $70 billion in AI and high-performance computing contracts, a trend reflected in SWI Group's acquisition of Genesis Digital Assets, formerly owned by Alameda Research.
- The transaction increases total equity raised since March 2026 to over €1 billion and expands the Company's free float to approximately 20% of share capital, broadening institutional backing.
- "This transaction is about keeping up to speed with the compute and data center markets," Max-Herv said, noting SWI Group maintains a clear strategy and substantial pipeline across Europe and the United States.
26 Articles
26 Articles
SWI Group announces an institutional capital increase of 800 million euros, with a final valuation of 6.1 billion euros, to accelerate the expansion of its AI infrastructure and transatlantic computing platform
Williamson Herald
SWI Group announces €800 million institutional capital increase at a €6.1 billion final valuation to accelerate the expansion of its transatlantic AI infrastructure and compute platform
SINGAPORE and AMSTERDAM, Oct. 12, 2026 /PRNewswire/ -- Euronext Amsterdam-listed SWI Group ("SWI"; SWICH) today announces an €800 million capital increase with institutional investors.
SWI Group raised €800 million at a valuation of €6.1 billion; FTX-backed Genesis miner will now become an AI data center, FTT follows creditors.
The financing for SWI AI computing is worth 800 million euros, about 894 million dollars, and aims to expand data centers in Europe and the United States. With these funds SWI Group prepares to convert for artificial intelligence workloads the plants of the bitcoin miner Genesis [...]
New accelerator stroke in the great migration of miners from Bitcoin (BTC) to artificial intelligence (IA). SWI Group has just raised 800 million euros to transform Genesis Digital Assets, former minor BTC formerly funded by Alameda Research, into a transatlantic IA computing platform. A strong symbol of the rocking that shakes the entire sector of cryptocurrency mining. The article This former minor of Bitcoin converts to IA data centers thanks…
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