Overview
- SWI announced an 800 million euro capital raise that values the company at about 6.1 billion euros and is earmarked to finance the conversion of assets formerly operated by Genesis Digital Assets into AI and HPC centers.
- SWI acquired a dominant economic stake in Genesis Digital Assets through preferred shares, securing roughly three quarters of the economic interest and later reporting controlling voting rights as it folded the unit into SWI Digital.
- The asset package includes about 1.3 gigawatts of energized and approved grid connections across 15 facilities, mostly in Texas with a smaller cluster in Sweden, but that figure represents potential capacity rather than systems ready for AI customers.
- Converting mining sites to AI‑grade data centers requires major upgrades to cooling, networking and uptime guarantees, and observers warn the heavy concentration in the Texas grid creates technical and regulatory exposure.
- The move follows a broader industry trend of bitcoin miners monetizing power hookups and shells for steadier AI hosting revenue, and SWI plans to sell the firm’s Kazakhstan sites as it focuses U.S. and Swedish facilities on AI workloads.