SWI Takes Majority Stake in FTX-Backed Genesis Miner for AI

SWI Group bought 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 AI firms. I’m doubtful its stop-start mining sites can switch to always-on AI work. The power is real. So is the upgrade bill.