SWI Group completes €800 million financing to accelerate the transformation of Bitcoin mining farms into AI computing infrastructure.

PANews October 12 news, according to The Block, SWI Group has completed €800 million (approximately $895 million) in financing to expand its AI infrastructure business. Previously, the company had gained control of FTX-backed Bitcoin miner Genesis Digital Assets.

SWI Group stated that it will retrofit some of its Bitcoin mining facilities suitable for high-performance computing (HPC) for AI workload deployment. This move marks the company's transition from its traditional crypto mining business to the AI computing infrastructure sector. As demand for AI computing continues to grow, an increasing number of Bitcoin mining companies are beginning to explore migrating their existing power, data center, and hardware resources to AI computing scenarios.