SWI Raises $894M to Convert Former FTX-Backed Bitcoin Miner Into AI Data Centers
- —Raised €800M ($894M), bringing total equity raised since March 2026 to over €1B
- —Company valued at €6.1B, with free float rising to about 20%
- —Genesis Digital controls 15 sites with 1.2–1.3 GW of grid connections in the US and Sweden
- —SWI's total digital infrastructure pipeline stands at roughly 4 GW
Why it matters: The deal reinforces the shift of Bitcoin miners into AI infrastructure, where cost per MW is roughly ten times higher than in mining.
Source: NFT Evening