High Alert

SWI raises $894 million to repurpose former FTX bitcoin miner Genesis Digital to AI

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: CoinDesk
SWI raises $894 million to repurpose former FTX bitcoin miner Genesis Digital to AIWorldPing
Image via CoinDesk.

What happened

SWI Group said it would use the proceeds from an 800 million-euro ($894 million) fundraise to transform Genesis Digital Assets, acquired from the FTX bankruptcy, from a bitcoin miner to an AI-focused data center.

Key facts

  • SWI Group said it would use the proceeds from an 800 million-euro ($894 million) fundraise to transform Genesis Digital Assets, acquired from the FTX bankruptcy, from a bitcoin miner to an AI-focused data center.
  • Reported by CoinDesk and published Mon, 12 Oct 2026 10:27:00 UTC.

Why it matters

Digital-asset markets react to catalysts within minutes, and liquidity, ETF flows and regulatory signals are usually what decide whether a move sticks.

What to watch next

  • Whether spot volume and open interest confirm the move
  • Liquidation clusters around the current price
  • ETF flow data and any regulatory follow-up

Coverage timeline

When each newsroom published on this story, oldest first — all times UTC.

  1. Bitcoin pulls back from $84,000 as oil recovers, ETFs bleed over $600 million

  2. SWI raises $894 million to repurpose former FTX bitcoin miner Genesis Digital to AI

  3. Shorting XRP, Bitcoin, Ether, SOL Has This NEAR Trader up $20 Million

  4. Bitcoin holds $83,000 as dollar strength keeps markets on edge

  5. Bitcoin Ranges Near $83K as Traders Look to US Inflation Data

  6. Thailand wants a piece of the $120 billion Bitcoin and Ethereum ETF market, but on its own terms

  7. Evernorth names former Coinbase investment exec to steer 473 million XRP treasury ahead of Nasdaq debut

Sources

The original report was published by CoinDesk. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at CoinDesk

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Brief by WorldPing · Original reporting by Bitcoin.com