POPA ReconSWI Group’s reported €800 million raise is intended to shift Genesis Digital Assets from bitcoin mining toward AI data centers. For Genesis, that means SWI control, a planned rebrand to SWI Digital, conversion of suitable U.S. and Swedish sites, and a sale process for its remaining Kazakhstan mining sites.
Financing
Reports dated October 12, 2026 say SWI raised €800 million, about $894 million to $900 million, from institutional investors at a €6.1 billion valuation. The proceeds are for AI and high performance computing infrastructure, according to CoinDesk and Blockhead.
What changes for Genesis
SWI reportedly bought into Genesis for $500 million in June and now controls it. The Texas, Carolinas and Sweden sites are to be marketed to hyperscale cloud providers; Kazakhstan mining sites are up for sale. SWI CEO Max-Hervé George said he has “zero interest” in bitcoin mining, as reported by Blockhead. The reports describe a planned conversion and marketing effort, not completed AI leases or a completed sale of the Kazakhstan sites.
Context
Alameda Research reportedly invested about $1.15 billion in Genesis in 2021. The practical implication is that Genesis’s sites and power access are being repositioned to serve AI computing demand, while bitcoin mining is being wound down as SWI’s strategic priority. The supplied material and coverage do not establish how much of the €800 million is earmarked specifically for Genesis or how quickly conversions will happen.