According to CoinMeta, as reported by The Wall Street Journal, Alameda Research, a subsidiary of FTX, once invested over $1 billion in the Bitcoin mining company Genesis Digital Assets. It is now being transformed by the new controlling shareholder Swi Group into a AI data center business. In June of this year, Swi spent $500 million to acquire a significant stake in the company, subsequently becoming the controlling shareholder, and on October 12th, announced a financing of 800 million euros (about $900 million) for data center upgrades and expansions. Swi plans to utilize the data centers in Texas, North and South Carolina in the United States, as well as those in Sweden, owned by Genesis Digital, to provide computing power for large cloud computing service providers, and to sell the remaining mining assets in Kazakhstan. The bankruptcy manager of FTX had previously sued to recover about $1.15 billion invested by Alameda, but withdrew the lawsuit in June of this year.