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Crypto
FTX-backed SWI Group to sell last three bitcoin mining sites in Kazakhstan, shift to AI infrastructure
Three remaining bitcoin mining sites in Kazakhstan operated by Genesis Digital Assets have been put up for sale. SWI Group, which controls Genesis Digital, is winding down Kazakhstan mining assets and shifting its focus to AI data centres. The Euronext Amsterdam-listed company raised 800 million euros and was valued at 6.1 billion euros. It said it will invest funds in power infrastructure and computing facilities in the United States and Sweden.
Crypto
Mara posts $611.3 million Q2 net loss hit by bitcoin price drop
Bitcoin miner Mara (MARA) swung to a net loss of $611.3 million in the second quarter, hurt by a 28 percent drop in the average bitcoin price. The company said its quarterly bitcoin output was the highest in more than a year, but the price decline outweighed a 3 percent increase in production. Mara held 35,577 bitcoin worth $2.1 billion at fair value as of June 30. It is also expanding AI and HPC infrastructure.
Industry
Mara bitcoin miner pursues purchase of Texas power site to accelerate AI expansion
Mara Holdings shares rose about 15 percent early after it announced plans to buy a Texas power site to expand digital infrastructure for AI computing and bitcoin mining. The site is a 1,200-acre tract in Matagorda County with access rights of up to 2 gigawatts, with an initial 1 gigawatt expected by October 2027. Mara said the project is early-stage and subject to regulatory approvals, with phased construction over several years.
