News · Crypto · Cointelegraph · Mon, Oct 12, 2026 10:00 PM
FTX’s former mining stake in Genesis now powers AI workloads
Image from the source feed · Cointelegraph
After FTX’s collapse, its 20% stake in Genesis Digital Assets is now used to support AI data center operations.
FTX acquired a 20% stake in Genesis Digital Assets, a data‑center operator that hosts large‑scale crypto mining rigs.
From Crypto Mining to AI Data Centers
After FTX declared bankruptcy in November 2022, the stake was sold as part of the liquidation process.
The mining infrastructure is now being leveraged to run AI workloads, indicating a new use for the data‑center capacity.
Based on reporting from Cointelegraph. Read the original.
OpenBook analysis
Market impact
The repurposing of former crypto-mining infrastructure for AI workloads could influence demand for high-performance computing services and may affect valuations of data-center operators. Investors in cloud and AI technology sectors may monitor how this shift in asset utilization impacts operational costs and revenue streams.
General market context for education only, not investment advice.
This briefing was summarized with automated tools from public reporting by Cointelegraph and is general market information, not investment advice. Editorial policy & corrections