AiOnX acquires Genesis Digital Assets' crypto data centers for $500M to pivot to AI infrastructure

Type: Acquisition · Technology: Data Center · Country: United States · Value: $500M · Announced: 2026-06-15

AiOnX completed a $500 million acquisition of Genesis Digital Assets' existing crypto-focused data center portfolio, marking a strategic pivot toward AI infrastructure. The transaction transfers approximately 20 facilities across the U.S. and Europe, totaling over 1 GW of critical power capacity previously dedicated to cryptocurrency mining operations. Genesis Digital Assets will retain a minority stake in the combined entity while transitioning to a technology services provider role. AiOnX plans to repurpose the facilities with AI-optimized infrastructure, including liquid cooling systems and high-density server deployments, targeting hyperscalers and enterprise AI workloads. The deal was finalized on June 15, 2026, following six months of due diligence focused on power infrastructure compatibility and regulatory compliance. Financial advisors for the transaction included Goldman Sachs (sell-side) and Morgan Stanley (buy-side), with legal counsel provided by Skadden Arps and Latham Watkins.

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