Blockchain
Cryptocurrencies and artificial intelligence could be a $20 trillion megatrend, says Bitwise
Artificial intelligence (AI) and cryptocurrencies could collectively add $20 trillion to the global economy by 2030, asset manager Bitwise said in a report on Wednesday.
“The intersection of AI and cryptocurrencies will be even greater than imagined,” wrote senior cryptocurrency research analyst Juan Leon, adding that “the two industries could collectively add $20 trillion to gross domestic product ( global GDP by 2030.”
“The race for AI supremacy is creating an unprecedented shortage of data centers, AI chips and access to electricity,” Leon said, noting that the four largest cloud companies are expected to spend around $200 billion dollars for the construction of data centers in 2025. mainly to meet the growing demand from artificial intelligence companies.
Bitcoin (BTC) miners have all the resources AI companies need, including powerful chips, hi-tech cooling systems and accompanying infrastructure, report says, and CoreWeave acquisition offer last week for miner Core Scientific (CORZ) is evidence of this claim. Core Scientific also announced the largest miner/artificial intelligence partnership to date, with a $3.5 billion deal to host CoreWeaves’ AI-related services. Bitwise notes that Hut 8 (HUT), Iris Energy (IREN), and other miners have also announced AI hosting initiatives this year.
Cryptocurrencies and artificial intelligence have the potential to intersect in other areas than just bitcoin mining and these include information validation and virtual assistants, the report adds.