SWI raises $894 million to repurpose former FTX bitcoin miner Genesis Digital to AI

SWI has raised $894 million to repurpose Genesis Digital Assets, the bitcoin mining company formerly backed by FTX, for artificial intelligence infrastructure. The move reflects growing demand for power and data-center capacity as miners and other operators seek AI revenue. For Bitcoin, shifting mining facilities toward AI could reduce competition for energy and mining capacity, but may also signal that some operators see AI as more profitable than securing the network.