FTX Bitcoin-Mining Assets Resurge as AI Data-Center Play Under New Operator

A bitcoin-mining portfolio once stranded by Sam Bankman-Fried's FTX collapse is undergoing a dramatic repurposing: SWI Group acquired a controlling stake in Genesis Digital Assets for $500 million in June 2026, pivoting the infrastructure from cryptocurrency mining toward artificial-intelligence compute. Genesis Digital Assets controls 1.3 gigawatts of energized grid connections across 15 facilities, predominantly in Texas and Sweden—assets that sat idle or underutilized after FTX's November 2022 implosion. The transaction, which closed on June 15, gave SWI approximately 77% economic interest in the company and boosted SWI's combined AI-ready capacity to 3.6 gigawatts.