SWI Raises $894M to Convert FTX's Genesis Miner to AI Infrastructure
SWI Group secures €800 million to transform Genesis Digital Assets from a bitcoin miner into an AI-focused data center.
SWI Group secures €800 million to transform Genesis Digital Assets from a bitcoin miner into an AI-focused data center. Bitcoin (BTC) is trading at $83,275.00, down 0.1% since this brief published. This is an original TLT brief based on reporting by CoinDesk, with live market data added, as of Mon, 12 Oct 2026 11:45:02 UTC.
This significant capital injection will reshape a major bitcoin mining operation into AI infrastructure, reflecting the growing demand for AI compute resources and potentially impacting the bitcoin mining landscape.
- SWI Group raised €800M at a €6.1B valuation for AI infrastructure projects.
- Funds will repurpose Genesis Digital Assets, acquired from FTX bankruptcy.
- Bitcoin network hashrate remains at 1008 EH/s despite the transformation.
SWI Group has successfully raised €800 million in funding, valuing the company at €6.1 billion, according to multiple outlets. The funds will be used to transform Genesis Digital Assets, a bitcoin mining operation acquired from the FTX bankruptcy proceedings, into an AI-focused data center.
The transformation of Genesis Digital Assets marks a significant shift in the company's strategic direction. Originally a major player in the bitcoin mining industry, the operation will now be repurposed to support AI compute needs, reflecting the growing demand for AI infrastructure.
This development comes as the bitcoin network continues to operate at a hashrate of 1008 EH/s, according to mempool.space. Despite the repurposing of Genesis Digital Assets, the overall bitcoin mining landscape remains robust.
The total crypto market cap stands at $2.9 trillion, with 
Bitcoin trading at $38,389, up 0.54% in the last 24 hours. The Fear & Greed Index is at 69, indicating a state of 'Greed' among investors.
The repurposing of Genesis Digital Assets into an AI data center highlights the increasing convergence between the cryptocurrency and AI sectors. As AI technology continues to advance, the demand for specialized infrastructure is expected to grow, potentially driving further investments in this area.
Since this brief published about 1 hour ago, Bitcoin (BTC) has moved from $83,389.00 to $83,275.00 — -0.14%.
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 TLT'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 ≈ ₦113.74M (about $83,275.00), up 0.4% over 24 hours. The naira itself trades about 2.7% above the official rate on the P2P market, so a Nigerian 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.
TLT 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 Convert FTX's Genesis Miner to AI In — questions & answers
What will happen to Genesis Digital Assets after the acquisition?
Genesis Digital Assets will be transformed into an AI-focused data center using the €800 million raised by SWI Group.
How much did SWI Group raise in total?
SWI Group raised €800 million at a €6.1 billion valuation.
What is the current bitcoin network hashrate?
The bitcoin network hashrate is 1008 EH/s.
How much is 1 Bitcoin worth in naira today?
About ₦113.74M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $83,275.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.14% since this brief first published — trading at $83,275.00 now versus $83,389.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT 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 TLT 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.