The bitcoin miner Sam Bankman-Fried's Alameda poured $1 billion into is quitting mining for AI, after its new owner raised 800 million euros

One of the bitcoin miners most tied to the FTX collapse is getting out of bitcoin. SWI Group, an investment firm listed on Euronext Amsterdam, has raised 800 million euros, about $894 million, from institutional investors in a capital increase that values it at 6.1 billion euros, CoinDesk reported on Monday. The money will fund its move into AI computing.

SWI said in June it would buy about 40% of Genesis Digital Assets for $500 million. The deal closed in August and gave SWI 70% of the voting rights; the unit has been renamed SWI Digital. SWI now plans to sell Genesis Digital's mining sites in Kazakhstan and use its facilities in the United States and Sweden for AI workloads.

Chief executive Max-Hervé George told the Wall Street Journal he has "zero interest" in bitcoin mining.

The miner has a long FTX history. Alameda Research, the trading firm owned by FTX founder Sam Bankman-Fried, invested more than $1 billion in Genesis Digital from 2021 and owned about 20% of it, according to the Journal.

SWI joins listed miners such as TeraWulf and Core Scientific that have been shifting power and buildings from bitcoin to AI hosting. Investors were not named.