SWI Raises $894M to Repurpose FTX's Genesis for AI Infrastructure
SWI Group plans to transform the former FTX-owned bitcoin miner Genesis Digital Assets into AI-focused data centers using an €800 million fundraise.
SWI Group plans to transform the former FTX-owned bitcoin miner Genesis Digital Assets into AI-focused data centers using an €800 million fundraise. Bitcoin (BTC) is trading at $83,565.00, down 0.4% since this brief published. This is an original Token Times brief based on reporting by CoinDesk, with live market data added, as of Tue, 13 Oct 2026 09:00:01 UTC.
The repurposing of Genesis Digital Assets marks a significant shift in the crypto mining landscape, reflecting broader trends in AI infrastructure investment and the reallocation of resources from struggling crypto sectors to emerging technologies.
- SWI Group raised €800M at a €6.1B valuation for AI infrastructure projects.
- Funds will transform Genesis Digital Assets from a bitcoin miner to AI data centers.
- The move highlights shifting priorities from crypto mining to AI technology.
SWI Group has announced the successful raising of €800 million in funding, valuing the company at €6.1 billion, according to multiple outlets. The funds will be used to transform Genesis Digital Assets, a bitcoin mining company previously owned by the now-bankrupt FTX, into a network of AI-focused data centers.
The acquisition of Genesis Digital Assets from the FTX bankruptcy proceedings signifies a strategic shift in the company's focus from cryptocurrency mining to artificial intelligence infrastructure. This move reflects broader trends in the tech industry, where AI is becoming a dominant force, while the crypto mining sector faces increasing challenges.
The repurposing of Genesis Digital Assets is part of SWI's broader strategy to invest in AI infrastructure, power projects, and compute capabilities across Europe and the US, as reported by CryptoNews. This initiative aims to capitalize on the growing demand for AI processing power and data center capacity.
The bitcoin mining landscape has been experiencing significant changes, with the network's hashrate currently at 1005 EH/s and difficulty at 132.7T, according to mempool.space. The shift of resources from crypto mining to AI reflects the evolving priorities of companies in the tech and finance sectors.
In the broader market context, the total crypto market cap stands at $2.89 trillion, with 
Bitcoin trading at $38,861, showing a modest 24-hour increase of 0.07% and a 7-day decrease of 1.69%. The overall market sentiment, as indicated by the Fear & Greed index, remains in 'Greed' territory at 57.
Since this brief published about 23 hours ago, Bitcoin (BTC) has moved from $83,861.00 to $83,565.00 — -0.35%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₹8.71M (about $83,565.00), up 0.1% over 24 hours. The rupee itself trades about 8.7% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 13, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
SWI Raises $894M to Repurpose FTX's Genesis for AI Infra — questions & answers
What is SWI Group's valuation after the fundraising?
SWI Group's valuation is €6.1 billion following the €800 million fundraising.
What will happen to Genesis Digital Assets?
Genesis Digital Assets will be transformed into AI-focused data centers.
How does this affect the bitcoin mining industry?
The repurposing of Genesis highlights a shift in focus from crypto mining to AI, reflecting broader industry trends.
How much is 1 Bitcoin worth in rupee today?
About ₹8.71M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $83,565.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.35% since this brief first published — trading at $83,565.00 now versus $83,861.00 at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from CoinDesk. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.