SWI Group raised about 800 million euros (approximately $900 million) to fund the expansion of its data centers and AI computing capacity in Europe and the United States. SWI Group now holds a 70% stake in Genesis Digital Assets, the former FTX crypto mining operation acquired for $500 million in June and renamed SWI Digital. Sam Bankman-Fried directed Alameda Research to spend over $1 billion to acquire a 20% stake in Genesis between 2021 and 2022. FTX filed for bankruptcy in November 2022, and creditors sought to recover funds. SWI stated that all legal disputes related to FTX’s stake in Genesis have been resolved.
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