Bitcoin
Crypto and AI Could Be a $20 Trillion Megatrend, Says Bitwise
Artificial intelligence (AI) and cryptography could add $20 trillion to the global economy by 2030, asset manager Bitwise said in a report on Wednesday.
“The intersection between AI and cryptography will be even bigger than people realize,” wrote senior cryptography research analyst Juan Leon, adding that “the two industries could add a collective $20 trillion to the gross domestic product (GDP). ) global 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 about $200 billion on building data centers in 2025. mainly to meet the growing demand from AI companies.
Bitcoin (BTC) miners have all the resources AI companies need, including powerful chips, high-tech cooling systems and accompanying infrastructure, the report said, and the acquisition of CoreWeave to offer last week for mining company Core Scientific (CORZ) is proof of this demand. Core Scientific also announced the largest mining/AI 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.
Cryptography and AI have the potential to intersect in areas other than bitcoin mining and include information validation and virtual assistants, the report added.