SWI Repositions Bitcoin-Mining Sites After Acquiring Stake in GDA

SWI Group is repositioning infrastructure built for Bitcoin (BTC) mining toward artificial intelligence and high-performance computing after acquiring a significant stake in Genesis Digital Assets for $500 million.

The June 15, 2026, transaction expanded SWI’s combined AI-ready infrastructure capacity to 3.6 gigawatts. Across 15 sites, GDA has 1.3 gigawatts of active or authorized grid capacity, with most facilities located in the United States and Sweden and several large-scale sites in Texas.

The announced capacity represents grid-connected infrastructure rather than confirmation that all 1.3 gigawatts is operating as AI data-center capacity. SWI is positioning GDA’s existing sites, land and power connections for new computing workloads.

The acquisition represented approximately 77.2% by value of the $1.124 billion liquidation preference attached to GDA’s preferred shares. It represented approximately 38.3% of GDA’s total shareholding.

On Aug. 25, 2026, SWI said it had completed its acquisition of a controlling stake of more than 70% in GDA and planned to rename the company SWI Digital. Max-Hervé George, founder and CEO of SWI Group, described the creation of SWI Digital as “a defining step” in the group’s transition into digital infrastructure.

“Power connectivity is the most valuable commodity in digital infrastructure today, and converting legacy cryptocurrency mining infrastructure to AI and high-performance computing is the best and highest use of these assets,” George said.

The June transaction coincided with the June 15 dismissal with prejudice of litigation involving the FTX bankruptcy estate against GDA and related defendants. The FTX Recovery Trust dismissed with prejudice all claims against GDA and related defendants in a case seeking approximately $1.15 billion.

The trust alleged that investments by Alameda Research in GDA between August 2021 and April 2022 involved misappropriated FTX customer funds. The dismissal ended the case without establishing whether those allegations were true or false.

SWI’s announced strategy places GDA’s mining-era infrastructure within a broader AI and high-performance-computing platform. The next phase is expected to center on developing that capacity under SWI Digital rather than confirming that the facilities have already shifted operations.