Overview
- SWI cleared a legal overhang and secured control of Genesis Digital Assets after a lawsuit was dismissed on June 15, 2026, taking roughly 70–77% economic or voting rights through preferred shares.
- On October 12, 2026, SWI announced an €800 million capital increase that values the company at €6.1 billion and is earmarked to fund data‑center development and power upgrades for AI workloads.
- The acquisition centers on power connections rather than mining rigs: Genesis controls about 1.3 gigawatts of energized or approved grid links across 15 facilities, mostly in Texas with some sites in Sweden, which lifts SWI’s combined AI‑ready portfolio to about 3.6 GW.
- Converting those sites to AI‑grade data centers is capital and tech intensive, with industry estimates of roughly $8 million to $15 million per megawatt and work needed on cooling, networking, and reliability so the 1.3 GW reflects potential rather than finished capacity.
- SWI plans to sell the Kazakhstan sites, market converted capacity to hyperscalers, and build an AI cloud platform, a move that could shift local jobs from mining to data‑center operations and place new demands on regional grids if execution or contracts lag.