SWI Group announced the completion of a $500 million acquisition of a significant shareholding in Genesis Digital Assets Limited (GDA), expanding the company’s transatlantic digital infrastructure platform and increasing its combined AI-ready capacity to 3.6 gigawatts.
The Euronext Amsterdam-listed investment group said the transaction provides exposure to one of the largest privately held digital infrastructure platforms in the United States. GDA operates 15 facilities and controls approximately 1.3 GW of energized and approved grid connections, including multiple hyperscaler-grade sites in Texas.
SWI plans to reposition GDA’s existing digital asset mining infrastructure to support high-performance computing and artificial intelligence workloads. The company intends to leverage expertise developed through AiOnX, its wholly owned European data center platform.
The acquisition complements AiOnX’s 2.3 GW portfolio of AI-ready projects under development across Ireland, the United Kingdom, Denmark, Spain, and Italy. Combined, the assets create a 3.6 GW transatlantic footprint, placing SWI among the owners of one of the world’s largest AI-ready digital infrastructure portfolios.
Upon completion of the transaction, SWI will hold approximately 77.2% by value of the $1.124 billion liquidation preference associated with GDA’s preferred share classes and approximately 38.3% of the company’s total shareholding.
The transaction reflects growing interest in converting legacy cryptocurrency mining facilities into infrastructure capable of supporting AI and high-performance computing applications. Access to power and grid connectivity has become increasingly valuable as demand for AI computing capacity accelerates.
SWI Group currently manages approximately €10 billion in assets and employs more than 280 people across 26 offices worldwide. Its investment activities span sectors including data centers, real estate, credit, and financial services.
Genesis Digital Assets owns more than 1.3 GW of energized land across facilities located primarily in the United States and Sweden. The company is in the process of transitioning its infrastructure toward AI and high-performance computing applications.
KEY QUOTE:
“Power connectivity is the most valuable commodity in digital infrastructure today, and converting legacy cryptocurrency mining infrastructure to AI and high-performance computing is the best and highest use of these assets. We have been investing in power-connectivity since 2020. This is what that thesis looks like at scale.”
Max-Hervé George, Founder and Chief Executive Officer, SWI Group
