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API docsAlameda-Backed Miner Pivots to AI Compute
SWI Group raised €800M ($900M) at a €6.1B valuation to turn Genesis Digital Assets, the bitcoin miner it took over this year, into AI data centers.
Sites in Texas, the Carolinas and Sweden will be marketed to hyperscale cloud providers, and the remaining Kazakhstan mining sites are up for sale.
SWI Group raised €800M ($900M) at a €6.1B valuation to turn Genesis Digital Assets, the bitcoin miner it took over this year, into AI data centers.
Alameda Research put about $1.15B into Genesis in 2021, a bet FTX's estate called one of Bankman-Fried's most reckless. SWI bought into Genesis for $500M in June, now controls it and is renaming it SWI Digital. CEO Max-Hervé George says he has "zero interest" in bitcoin mining.
Sites in Texas, the Carolinas and Sweden will be marketed to hyperscale cloud providers, and the remaining Kazakhstan mining sites are up for sale.
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