SWI Group Acquires Majority Stake in FTX-Backed Genesis Miner for AI Work

SWI Group has acquired a majority stake in Genesis Digital Assets, the Cyprus-registered bitcoin miner backed by Sam Bankman-Fried's $1 billion bet, The Wall Street Journal reported Oct. 12, 2026. Genesis serves artificial-intelligence firms. I’m skeptical how smoothly interruptible mining sites convert to high-uptime AI work — the power is real, the retrofit bill is too.