SWI Group buys 77% of FTX-linked Genesis Digital Assets for $500M in AI pivot
- —SWI Group bought ~77% of Genesis Digital Assets for $500M via preferred shares
- —GDA controls 1.3 GW of energized grid connections across 15 sites, mostly in Texas
- —The acquisition lifts SWI's AI-ready capacity to 3.6 GW
- —The deal closed on June 15, 2026, after a lawsuit against GDA was dismissed
Why it matters: FTX-era mining sites are being repurposed for AI, as power connections become the scarce asset and miners diversify beyond Bitcoin production.
Source: Crypto Briefing