SWI Raises $894M to Transform FTX's Genesis Miner into AI Infrastructure
SWI Group acquires Genesis Digital Assets from FTX bankruptcy and plans to repurpose it for AI and data center operations.
SWI Group acquires Genesis Digital Assets from FTX bankruptcy and plans to repurpose it for AI and data center operations. Bitcoin (BTC) is trading at $83,370.00. This is an original Token Times brief based on reporting by CoinDesk, with live market data added, as of Mon, 12 Oct 2026 12:00:01 UTC.
This development marks a significant shift in the crypto mining landscape as a major player pivots from bitcoin mining to AI infrastructure, potentially impacting the global hash rate distribution and the AI compute market.
- SWI Group acquired Genesis Digital Assets from FTX bankruptcy proceedings.
- €800 million ($894M) raised to fund AI infrastructure projects across Europe and US.
- Bitcoin mining assets will be repurposed for AI data centers.
- Current Bitcoin network hashrate at 1008 EH/s, difficulty at 132.7T.
SWI Group has announced the acquisition of Genesis Digital Assets, a former bitcoin mining subsidiary of the now-bankrupt FTX, with plans to repurpose its infrastructure for artificial intelligence (AI) and data center operations.
The company has successfully raised €800 million ($894 million) in funding, which values SWI at €6.1 billion. This capital will be used to fund AI infrastructure projects, power initiatives, and computing resources across Europe and the United States.
The decision to repurpose Genesis Digital Assets comes at a time when the crypto mining industry is facing increasing scrutiny and market challenges. The 
Bitcoin network currently has a hashrate of 1008 EH/s and a difficulty of 132.7T, indicating a highly competitive environment for miners.
This move reflects a broader trend of repurposing crypto mining assets for other high-demand computing needs, such as AI and machine learning. The acquisition of Genesis Digital Assets provides SWI with a substantial infrastructure base, which can be leveraged for these new purposes.
In the current market context, the total crypto market cap stands at $2.9 trillion, with Bitcoin trading at $83,389, up 0.54% in the last 24 hours. The overall market remains relatively flat, with a Fear & Greed index of 69, indicating a state of 'Greed' among investors.
Since this brief published about 2 hours ago, Bitcoin (BTC) has moved from $83,389.00 to $83,370.00 — -0.02%.
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 ≈ ₹8.59M (about $83,370.00), up 0.3% over 24 hours. The rupee itself trades about 6.2% 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 12, 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 Transform FTX's Genesis Miner into A — questions & answers
What is SWI Group planning to do with Genesis Digital Assets?
SWI Group plans to repurpose Genesis Digital Assets from a bitcoin miner to an AI-focused data center.
How much funding did SWI Group raise?
SWI Group raised €800 million ($894 million) at a €6.1 billion valuation.
What is the current state of the Bitcoin network?
The Bitcoin network has a hashrate of 1008 EH/s and a difficulty of 132.7T.
How much is 1 Bitcoin worth in rupee today?
About ₹8.59M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $83,370.00. 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.
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.