Crypto and Artificial Intelligence Could be a $20 Trillion Megatrend, Bitwise Says

The report stated that the combination of artificial intelligence and cryptocurrency could contribute a total of $20 trillion to the global economy by 2030.

Bitwise states that bitcoin miners have all the resources that artificial intelligence firms need.

Crypto and AI have the potential to intersect in other areas beyond mining, such as fact-checking and virtual assistants.

Artificial intelligence (AI) and cryptocurrency could add a total of $20 trillion to the global economy by 2030, asset manager Bitwise said in a report on Wednesday.

“The intersection of AI and crypto will be bigger than people imagine,” senior crypto research analyst Juan Leon wrote, adding that “the two industries could collectively add $20 trillion to global gross domestic product (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 estimated to spend approximately $200 billion on data center construction in 2025. mainly to meet the growing demand from AI companies.

Bitcoin {{BTC}} miners have all the resources AI firms need, including powerful chips, high-tech cooling systems and their accompanying infrastructure, the report said, citing CoreWeave’s acquisition of miner Core Scientific (CORZ) last week. His offer is proof of this. sue. Core Scientific also announced its largest miner/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.

The report noted that crypto and artificial intelligence have the potential to intersect in other areas beyond just bitcoin mining, including fact-checking and virtual assistants.

Read more: JPMorgan Says Bitcoin Miners With Attractive Power Contracts Are Potential M&A Targets

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