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SWI Group said in a statement that the $500 million transaction for a significant shareholding in Genesis Digital Assets provides access to 1.3 gigawatts of energized and approved grid connections spread across 15 facilities, many of them hyperscaler-grade sites in Texas. The privately held platform operates primarily in the United States with some presence in Sweden, and the group intends to reposition its legacy cryptocurrency mining operations toward high-performance computing and artificial intelligence workloads. The announcement highlighted how the move builds on the company’s established expertise in AI-ready infrastructure through its European operations while securing one of the largest such portfolios under single-firm control globally.
The deal complements AiOnX, SWI Group’s wholly owned European data center platform that has reached 2.3 gigawatts of capacity under development in Ireland, the United Kingdom, Denmark, Spain and Italy. Together the assets create a transatlantic footprint of 3.6 gigawatts that the company described as among the largest in single ownership worldwide. SWI Group noted that the acquisition reflects its long-term focus on power connectivity as a critical resource for digital infrastructure expansion.
Max-Hervé George, founder and chief executive officer of SWI Group, said in the announcement, “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.” He added that the group had been investing in power connectivity since 2020 and that the transaction demonstrated that strategy at scale. George has guided the conglomerate’s shift into data centers as part of a diversified portfolio spanning real estate, credit and financial services.
According to the company’s release, SWI Group manages approximately 10 billion euros in assets and employs more than 280 people from 26 offices around the world. The Euronext Amsterdam-listed entity, which trades under the ticker SWICH, resulted from the combination of Stoneweg and Icona and maintains local operating teams to identify and manage opportunities. The statement emphasized that its investment process rests on detailed research and hands-on implementation to capture structural shifts in key sectors.
The acquisition follows a 260 million euro capital increase that SWI Group secured in March 2026 from its founder and a co-investor to fund the North American push, an earlier corporate filing showed. Industry figures from Synergy Research Group place North America as the dominant region for hyperscale data center capacity, fueled by surging artificial intelligence requirements that have drawn massive investments from technology providers. The transaction arrives as power availability and grid connections become decisive factors for new facilities serving advanced computing demands.
SWI Group’s AiOnX platform focuses on developing facilities equipped for artificial intelligence applications, a capability that will now extend more deeply into the US market through the Genesis Digital Assets sites. The combined entity is expected to serve a growing roster of international clients seeking resilient, geographically diversified infrastructure for their high-performance computing needs. Genesis Digital Assets will transition its focus under the new ownership while retaining its portfolio of approved grid connections that support rapid deployment.
