SWI Group Announces About $900 Million for Genesis AI Expansion

Genesis Digital Assets, a Bitcoin mining company in which Alameda Research invested more than $1 billion, will use about $900 million in financing to expand its artificial intelligence data-center business. SWI Group, which became Genesis Digital Assets’ controlling shareholder after acquiring a large stake for $500 million in June, announced €800 million in financing on Oct. 12. The funds will support data-center upgrades and expansion in the United States and Sweden. The company plans to use facilities in Texas, North Carolina, South Carolina and Sweden to provide computing capacity to major cloud-service providers.

Source: TokenPost