Genesis Digital pivots to AI computing under SWI Group ownership

SWI Group: SWI Group is a Singapore-incorporated, Euronext Amsterdam-listed digital infrastructure firm focused on data centers and AI compute capacity. It recently acquired majority control of Genesis Digital and announced plans to convert the miner's U.S. facilities for AI and high-performance computing applications. The firm is also expanding its European platform to build a larger transatlantic footprint in AI infrastructure. Genesis Digital: Genesis Digital is a U.S. cryptocurrency mining operator whose infrastructure includes significant power grid connections across multiple sites. Under new ownership by SWI Group, it is being repositioned from Bitcoin mining toward high-performance computing and artificial intelligence workloads. The company plans to sell certain non-U.S. assets as part of this transition. Alameda Research: Alameda Research is a crypto trading firm with ongoing activity in digital asset markets, including recent transactions involving Solana. It previously made a major investment in Genesis Digital before the collapse of its affiliated exchange FTX. This historical stake is now central to discussions around the miner's ownership change and operational shift. Industry Trend: Bitcoin miners are increasingly converting power infrastructure to support AI data centers as an alternative to cryptocurrency mining operations. Corporate Development: SWI Group is executing a strategy to reposition acquired mining assets exclusively toward AI and high-performance computing workloads rather than continuing Bitcoin mining.