Genesis Digital Assets
8 known investors
Genesis Digital Assets builds and operates data center infrastructure for high-performance computing workloads. The company designs purpose-built facilities with a focus on durability, energy efficiency, and community engagement.
Also known as GDA · Genesis Digital Assets Limited · SWI Digital
Founders & leadership
Investors · 8
Also in the syndicate · 3
Company profile
researched Aug 2026Genesis Digital Assets (GDA) is a digital infrastructure company that develops, builds, and operates energy infrastructure and purpose-built data centers for high-performance computing workloads, ranging from Bitcoin networks to industrial-scale AI workloads. Its activities span site selection (identifying locations with suitable power access, land, and grid conditions), power and data center development, and in-house operation of its facilities. The company states it has been operating since 2017 and describes a team of engineers, energy specialists, site operators, and infrastructure leaders.
The company was known primarily as a bitcoin mining operator. Press coverage in 2021 described it as a bitcoin miner with 170 MW of data centre capacity and plans to reach 1.4 GW by 2023. By June 2026, it was described as a privately held bitcoin mining platform holding 1.3 GW of energized and approved grid connections across 15 U.S. facilities. GDA's website indicates the company is rebranding as SWI Digital, with a name and website transition underway.
Business model
GDA develops and owns the energy infrastructure and data centers it operates, running high-performance computing workloads at industrial scale rather than solely providing colocation. Its operations have been centered on bitcoin mining capacity, with a stated repositioning by its new significant shareholder toward AI and high-performance computing workloads.
Traction
Company materials cite data centers online, MW online, exahash per second, rigs online, and employee counts, but the numeric values were not rendered in the retrieved pages. External reporting cites 170 MW of capacity in September 2021, a 600 MW total power footprint with 50 MW of new West Texas capacity being deployed as of February 2025, and 1.3 GW of energized and approved grid connections across 15 U.S. facilities as of June 2026.
Latest developments
On 15 June 2026, SWI Group (Euronext Amsterdam: SWICH) announced it had closed a $500 million acquisition of a significant shareholding in Genesis Digital Assets Limited, taking approximately 77.2% by value of the $1.124 billion liquidation preference on GDA's preferred share classes and roughly 38.3% of total shareholding, and said it would reposition GDA's 1.3 GW portfolio toward AI and HPC workloads using operating expertise from its AiOnX platform. GDA's website states the company is becoming SWI Digital, with the name and website transition underway.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Reported in 2021 as having raised the largest known funding round announced by a bitcoin mining company. As of June 2026 it was described as a privately held bitcoin mining platform with 1.3 GW of energized and approved grid connections; combined with SWI Group's AiOnX European platform (2.3 GW across five sites), SWI stated the group's transatlantic footprint totals 3.6 GW of AI-ready digital infrastructure.
Technology
The company designs and constructs energy infrastructure and purpose-built data center facilities engineered for efficiency, uptime, and long-term resilience, and operates high-efficiency data centers supporting industrial-scale high-performance computing. It cites scalable infrastructure design and long-standing relationships with equipment manufacturers. A 'Greenhouse Project' explores using waste heat from a data center for growing produce in cold climates.
Go-to-market
Operators and users of industrial-scale high-performance computing workloads, historically bitcoin mining on its own account and, going forward, AI and HPC compute demand.
Geography
The company states its digital infrastructure spans North America, South America, Europe, and Central Asia, and that its team has evaluated and developed sites across four continents. Listed data centers include Texas sites (Pyote, scalable to 300 MW; Long Draw, a 400 MW greenfield; Leon Creek, a 200 MW greenfield; Cholla; Carterville; Ringo), South Carolina sites (Greenville; Pacolet and Union, together the 15 MW Twin Data Centers project; IWS, an 18 MW facility built in a repurposed textile warehouse), a North Carolina site (Harris), and Swedish sites (Porjus, an 8 MW facility near the 417 MW Porjus Hydroelectric Station, and Örträsk, with potential capacity up to 100 MW). Reporting states the company is headquartered in Dubai, UAE, was based in Kazakhstan at the time of the 2021 FTX/Alameda investment, and holds 1.3 GW of grid connections across 15 U.S. facilities concentrated in Texas.
History
The company states it has been building power infrastructure, developing purpose-built data centers, and operating them since 2017, describing nearly a decade of continuous operations. In September 2021 it announced a US$431 million funding round led by Paradigm. Reporting in 2025 noted that the company was based in Kazakhstan at the time of FTX/Alameda's 2021 investment and later operated data centers in the U.S. and Europe with headquarters in Dubai, UAE. In September 2025, the FTX Recovery Trust sued the company and its co-founders for $1.15 billion over those share purchases. In June 2026, SWI Group closed a $500 million acquisition of a significant shareholding, and the company's website indicates a rebrand to SWI Digital.
Risks & controversies
In September 2025 the FTX Recovery Trust sued Genesis Digital Assets and its co-founders for $1.15 billion, alleging that Sam Bankman-Fried, through Alameda Research, bought GDA shares at 'outrageously inflated prices' using commingled and misappropriated FTX customer funds and that the purchases were fraudulent transfers. GDA declined to comment on the suit. The company also faces the execution risk inherent in converting legacy bitcoin mining infrastructure to AI and HPC use, the stated plan of its new significant shareholder.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 5
by search overlap
Companies competing with Genesis Digital Assets for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 5
launches, deals, and filingsSWI Group (Euronext Amsterdam: SWICH) closed a $500 million acquisition of a significant shareholding in Genesis Digital Assets Limited, obtaining approximately 77.2% by value of the $1.124 billion liquidation preference on GDA's preferred share classes and approximately 38.3% of total shareholding. SWI said it intends to reposition GDA's 1.3 GW portfolio from bitcoin mining to HPC and AI workloads, using expertise from its European data centre platform AiOnX.
$500M source ↗
The company's website states that GDA is becoming SWI Digital, with its name and website changing and the transition underway, referencing a press release.
The FTX Recovery Trust filed a lawsuit against Genesis Digital Assets and its co-founders seeking $1.15 billion, alleging that Sam Bankman-Fried purchased GDA shares through Alameda Research using commingled and misappropriated FTX customer funds at inflated prices. GDA declined to comment.
$1.1B source ↗
CoinDesk reported that GDA was actively expanding mining operations, deploying 50 MW of new capacity across West Texas, with a total power footprint of 600 MW at the time.
Bitcoin miner Genesis Digital Assets announced a US$431 million round led by Paradigm, reported as the largest known funding round announced by a bitcoin mining company. Coverage noted plans to expand data centre capacity to 1.4GW by 2023 from 170MW at the time.
$431M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Genesis Digital Assetsgenesisdigitalassets.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Genesis Digital Assets do?
- Genesis Digital Assets develops and operates industrial-scale data centers for bitcoin mining and AI/HPC workloads.
- Who founded Genesis Digital Assets?
- Genesis Digital Assets was founded by Marco Streng.
- Who are Genesis Digital Assets's investors?
- Genesis Digital Assets's investors include Electric Capital, Paradigm, Kingsway Capital, Ribbit Capital, SkyBridge Capital.