News ยท Mining & Infrastructure
The Euronext-listed firm acquired a 38.3% equity holding in GDA to convert 1.3 GW of power capacity into data centers.
Key point 1 of 3
01
SWI Group spent $500 million to acquire approximately 38.3% of Genesis Digital Assets Limited.
Key point 2 of 3
02
The transaction gives SWI Group 77.2% of GDA's $1.124 billion preferred share liquidation preference.
Key point 3 of 3
03
SWI Group plans to convert GDA's 1.3 GW footprint across 15 sites from mining to high-performance computing and AI.
Context
SWI Group has pursued grid connectivity investments since 2020 and runs AiOnX, a 2.3 GW European data center developer.
Why it matters
GDA's 15 operating facilities across the United States and Sweden will be converted from cryptocurrency mining to high-performance computing workloads.
What to watch
SWI Group's execution milestones as it begins retrofitting GDA's 1.3 GW grid connections for AI hyperscaler clients.
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