POPA ReconAlameda-Backed Miner Pivots to AI Compute
Alameda-Backed Miner Pivots to AI Compute SWI Group raised €800M ($900M) at a €6.1B valuation to turn Genesis Digital Assets, the bitcoin miner it took over this year, into AI data centers. Alameda Research put about $1.15B into Genesis in 2021, a bet FTX's estate called one of Bankman-Fried's most reckless. SWI bought into Genesis for $500M in June, now controls it and is renaming it SWI Digital. CEO Max-Hervé George says he has "zero interest" in bitcoin mining. Sites in Texas, the Carolinas and Sweden will be marketed to hyperscale cloud providers, and the remaining Kazakhstan mining sit…
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