SWI Repurposes FTX-Backed Bitcoin Mining Infrastructure for AI Expansion
SWI Group is transforming Genesis Digital Assets' data centers from bitcoin mining to support the AI boom after acquiring majority control.
SWI Group is transforming Genesis Digital Assets' data centers from bitcoin mining to support the AI boom after acquiring majority control. Bitcoin (BTC) is trading at $82,289.00, down 0.8% since this brief published. This is an original Token Times brief based on reporting by Bitcoin.com, with live market data added, as of Mon, 12 Oct 2026 23:00:01 UTC.
This pivot highlights the growing demand for AI infrastructure and marks a strategic shift in how crypto mining assets are being repurposed for emerging tech sectors.
- SWI raises $896M to expand former bitcoin mining data centers for AI.
- Genesis Digital Assets pivots from crypto mining to hyperscale computing.
- Bitcoin network hashrate remains at 994 EH/s despite the shift.
SWI Group has acquired majority control of Genesis Digital Assets, a company originally backed by Sam Bankman-Fried, and is now repurposing its data center infrastructure for the artificial intelligence boom.
The company has raised approximately $896 million to expand the data center footprint, shifting from bitcoin mining to providing hyperscale computing services for AI and other high-performance applications.
This move comes as the crypto mining industry faces increased scrutiny and market challenges, while the demand for AI infrastructure continues to grow rapidly.
Despite the pivot, the 
Bitcoin network hashrate remains robust at 994 EH/s, indicating that the overall mining ecosystem continues to operate at a high level of computational power.
The broader crypto market remains relatively stable, with Bitcoin trading at $82,944, down 0.73% in the last 24 hours, while the overall market cap stands at $2.87 trillion.
Since this brief published about 2 hours ago, Bitcoin (BTC) has moved from $82,944.00 to $82,289.00 — -0.79%.
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.
Will Bitcoin dip to $82,000 on October 12?
Crowd-implied probability on Polymarket, $66.61K 24h volume, resolves Oct 13 — snapshotted when this brief published (Oct 12 21:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹8.50M (about $82,289.00), down 1.5% over 24 hours. The rupee itself trades about 6.6% 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 Repurposes FTX-Backed Bitcoin Mining Infrastructure for — questions & answers
What is Genesis Digital Assets' new focus?
The company is shifting from bitcoin mining to providing hyperscale computing services for AI applications.
How much funding has SWI raised for this transition?
SWI has raised approximately $896 million to expand the data center infrastructure.
What is the current state of the Bitcoin network hashrate?
The Bitcoin network hashrate is 994 EH/s, indicating continued strong mining activity.
How much is 1 Bitcoin worth in rupee today?
About ₹8.50M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $82,289.00. 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 0.79% since this brief first published — trading at $82,289.00 now versus $82,944.00 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 Bitcoin.com. 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.