Bitcoin miner Genesis Digital Assets to pivot to AI data centers.

BlockBeats news, October 12, according to The Wall Street Journal, Bitcoin mining company Genesis Digital Assets will transition to AI data centers. SWI Group spent $500 million in June this year to acquire a large equity stake in the company, subsequently becoming the controlling shareholder, and on October 12 announced a financing of €800 million (approximately $900 million) for data center upgrades and expansion. SWI plans to utilize Genesis Digital's data centers in Texas, North and South Carolina, and Sweden to provide computing power for large cloud service providers, and sell off its remaining mining farm assets in Kazakhstan.