Genesis Digital pivots to AI computing under SWI Group ownership

Genesis Digital Assets, the Bitcoin miner that took more than $1 billion from Alameda Research before FTX imploded, is getting a second act. It is no longer a Bitcoin mining story. SWI Group, an Amsterdam-based digital infrastructure company that trades under the ticker SWICH, has taken control of the company, renamed it SWI Digital, and plans to turn its power-connected sites into high-performance computing infrastructure for AI. The machines that once hashed blocks are being shown the door. The electrical hookups they plugged into are staying. How SWI took the keys The takeover happened in stages. SWI made an initial investment of $500 million in June 2026 and had secured majority voting rights by August. The June deal gave SWI roughly 38.3% of GDA’s shares and about 77.2% of the liquidation preference. SWI ultimately ended up with more than 70% voting control. A lawsuit tied to Alameda’s investment, brought by the FTX estate, was dismissed on June 15, 2026. That dismissal coincided with SWI finalizing its stake, clearing the most obvious legal cloud hanging over the company. On October 12, 2026, SWI announced an institutional capital raise of €800 million, or approximately $894 ...