Full Breakdown
SWI Group Secures €800 Million to Accelerate AI-Compute Expansion
By Drooid · · How we work
Capital Raise and Strategic Intent
On Oct. 12, 2026, SWI Group – listed on Euronext Amsterdam under the ticker SWICH – announced an €800 million capital increase from unnamed institutional investors. The transaction values the company at €6.1 billion and raises total equity raised since March 2026 to over €1 billion. New ordinary shares bring the total outstanding to about 558.4 million, increasing the free-float to roughly 20 percent. Proceeds are earmarked for power-infrastructure upgrades, compute-hardware deployments, and the development pipeline for data-center and AI-compute capacity across Europe and the United States.
Genesis Digital Assets Background
Earlier in 2026 SWI acquired control of Genesis Digital Assets, a former Bitcoin-mining operation originally funded by Alameda Research (approximately $1.15 billion) and entangled in FTX’s bankruptcy. The estate’s administrators sued Genesis to recover the investment, describing the assets as “virtually worthless.” That suit was dropped on June 15, 2026. SWI’s €500 million purchase secured about 38.3 percent of Genesis’s shares and the majority of its liquidation preference, giving the group access to more than 1.3 gigawatts of energized or approved grid connections across 15 facilities in Texas, North Carolina, South Carolina, and Sweden. Combined with SWI’s European AiOnX platform (?2.3 GW), the total AI-ready capacity now exceeds 3.6 GW. The company plans to market these sites to hyperscale cloud providers and is selling Genesis’s remaining three small mining sites in Kazakhstan.
Official Statements & Responses
He also reiterated that SWI has “zero interest” in Bitcoin mining and is focused on converting the acquired grid-connected sites to AI-focused infrastructure.
Data & Statistics
- Capital increase: €800 million (? $900 million)
- Post-raise valuation: €6.1 billion
- Total equity raised since March 2026: > €1 billion
- Outstanding shares: ~558.4 million; free float ~20 %
- AI-ready capacity: > 3.6 GW (1.3 GW Genesis Digital + 2.3 GW AiOnX)
- Geographic focus: data-center sites in Texas, North Carolina, South Carolina, Sweden, and additional European locations
Verbatim Quotes
- “This transaction is about keeping up to speed with the compute and data center markets. We have a clear strategy, a substantial pipeline and a strong position across Europe and the United States. We are very pleased to welcome new investors who share our long-term ambition for the Group,” — Max-Hervé George, founder and CEO
- “Power connectivity is the most valuable commodity in digital infrastructure today,” — Hervé George, founder and CEO