On Monday 12 October, SWI Group, listed on Euronext Amsterdam and based in Singapore and Amsterdam, announced an €800 million institutional capital increase at a final valuation of €6.1 billion. The money goes to data centres, compute and power in Europe and the US. The announcement names no investors, and it is other reports, not the company's release, that link the sites to Genesis Digital Assets mining sites in Texas, North Carolina, South Carolina and Sweden.
Why it matters: in ai the scarce asset is now a grid connection, and old crypto-mining sites have one.
sources
- PR Newswire: SWI Group announces €800 million institutional capital increase at a €6.1 billion final valuationprnewswire.com
- Pulse 2.0: SWI Group raises €800 million at €6.1 billion valuation to expand AI infrastructure and compute platformpulse2.com
- Tokenist: SWI Group, bitcoin mining and AI infrastructuretokenist.com
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researched and written by aida