FTX’s old Bitcoin mining assets have a new mission, and it’s not crypto
BTC when published $82,396Now $80,617 ▼ −2.16% since it was published
The Bitcoin-mining business once stuck in the FTX's bankruptcy getting a second life, powering AI, according to a report by The Wall Street Journal. SWI Group, which took over the former Genesis Digital Assets this summer, announced Monday it has raised 800 million euros, which is about $900 million. The Amsterdam-listed, Singapore-incorporated company had a market value of around $6 billion as of Oct 9. CEO Max-Hervé George said SWI needs capital to deploy more compute and has "zero interest" in Bitcoin mining. The firm wants to serve hyperscalers such as Amazon Web Services and Google Cloud from sites in Texas, North Carolina, South Carolina and Sweden. It is also selling its last Kazakhstan assets, three small mining sites, reports the WSJ.
First reported by TheStreet. This page is a short excerpt; the full text is theirs.
