SWI Group Buys $500M Stake in Genesis Digital Assets to Target AI

Euronext Amsterdam-listed SWI Group finalized a $500 million acquisition of a substantial stake in Genesis Digital Assets Limited (GDA) ¹. The investment secures approximately 38.3% of GDA's total equity and roughly 77.2% by value of its $1.124 billion liquidation preference tied to preferred shares ¹. The digital infrastructure operator maintains 1.3 gigawatts of energized and approved power connections across 15 sites, which include hyperscaler-grade locations in Texas and facilities in Sweden ¹.

SWI Group announced plans to transition GDA's current cryptocurrency mining facilities toward high-performance computing and artificial intelligence workloads ¹. Max-Hervé George, Founder and Chief Executive Officer of SWI Group, characterized power connectivity as the sector's most prized commodity, stating that repurposing legacy mining capacity represents the highest-value application for these sites ¹. George noted that SWI Group has pursued a power-connectivity investment strategy since 2020 ¹.

Transatlantic Power Footprint

The transaction expands SWI Group's total international pipeline to 3.6 GW of capacity ¹. The conglomerate plans to integrate GDA's sites with AiOnX, its proprietary European data center arm, which manages 2.3 GW of capacity across five development locations in Ireland, the United Kingdom, Denmark, Spain, and Italy ¹. SWI Group oversees roughly €10 billion in assets under management across its business units ¹. While legacy operations historically relied on dedicated hardware such as ASIC miners, SWI Group intends to deploy its operating capabilities to prepare the energized footprint for high-performance computing ¹.