# SWI Group Announces About $900 Million for Genesis AI Expansion

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/30038
Published: 2026-10-12T04:51:04.000Z
Updated: 2026-10-12T04:51:04.000Z
Section: Business

> The financing will fund data-center upgrades and expansion in the United States and Sweden as Genesis Digital Assets shifts away from Bitcoin mining.

Genesis Digital Assets, a Bitcoin mining company in which Alameda Research invested more than $1 billion, will use about $900 million in financing to expand its artificial intelligence data-center business.

SWI Group, which became Genesis Digital Assets’ controlling shareholder after acquiring a large stake for $500 million in June, announced €800 million in financing on Oct. 12. The funds will support data-center upgrades and expansion in the United States and Sweden.

The company plans to use facilities in Texas, North Carolina, South Carolina and Sweden to provide computing capacity to major cloud-service providers. It also plans to sell its remaining Bitcoin mining assets in Kazakhstan.

The move shifts Genesis Digital Assets’ operating focus from Bitcoin mining toward artificial intelligence infrastructure. The company’s facilities are expected to support computing demand from large cloud providers.

Alameda Research invested more than $1 billion in Genesis Digital Assets. The FTX bankruptcy estate had sought to recover approximately $1.15 billion tied to the investment before withdrawing the lawsuit in June.

SWI Group’s financing announcement marks the next step in the planned expansion of Genesis Digital Assets’ data-center operations across the United States and Sweden.