COINTELEGRAPH · 2026-10-12 21:11 UTC

FTX's crypto mining venture is now used to advance AI

SWI Group raised $900 million to expand AI and data center capacity, including Genesis Digital Assets, a mining operation previously owned by FTX. SWI acquired majority control (70% stake) of Genesis for $500 million in June, which operates 15 facilities with 1.3 gigawatts of capacity. Genesis was one of FTX's assets caught up in the exchange's 2022 bankruptcy; SWI's CEO said legal disputes over FTX's stake have been resolved.

Loading the story on Tree News…