According to Woofun AI, cryptocurrency mining assets from the original FTX ecosystem are accelerating their transformation to artificial intelligence computing power, and SWI Group has established its expansion path in the field of AI infrastructure by raising 900 million US dollars.
Funding details revealed on Monday show that the capital, equivalent to 800 million euros, will be directly injected into AI and data center expansion projects in Europe and the US. According to data compiled by Woofun AI, SWI Group's control over Genesis Digital Assets evolved clearly: it acquired a large share for $500 million in June, when Genesis had 15 facilities and 1.3 gigawatts of total computing power; by August, SWI's shareholding ratio rose to 70%, and the company changed its name to SWI Digital, making it officially integrated into the Group's data center network.
Going back to the background of the FTX bankruptcy case, the debtor tried to recover the relevant assets. Former FTX CEO Sam Bankman-Fried (SBF) directed affiliate Alameda Research to invest over $1 billion between 2021 and 2022 in exchange for 20% of Genesis's shares. FTX filed for bankruptcy in November 2022, and several executives faced criminal charges for misusing customer funds, and Genesis was involved as one of the targets of the acquisition.
SWI Group co-founder and CEO Max Hervey George confirmed that all legal disputes relating to FTX's shares in Genesis have been resolved. This advance removes the final hurdle to asset consolidation and marks a critical step in the transformation of the crypto industry's legacy computing power resources into mainstream AI infrastructure.