Genesis Digital Assets, the Bitcoin miner that received over $1 billion from Alameda Research between 2021 and 2022, has been acquired by SWI Group, an Amsterdam-based digital infrastructure company trading under the ticker SWICH. SWI made an initial $500 million investment in June 2026 and ultimately secured over 70% voting control. A lawsuit filed by the FTX estate seeking recovery of funds from Alameda’s investment was dismissed on June 15, 2026, clearing the way for SWI to finalize its stake and rename the company SWI Digital. SWI announced an institutional capital raise of €800 million, approximately $894 million, at a €6.1 billion valuation. The company plans to convert GDA’s 15 sites totaling 1.3 GW of grid connections, primarily in the US and Sweden, into high-performance computing infrastructure for AI while divesting remaining operations in Kazakhstan. Combined with its AiOnX platform, SWI targets a total capacity of 3.6 GW for hyperscalers, with CEO Max-Hervé George stating the company has zero interest in Bitcoin mining.
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