Artificial intelligence (AI) and cryptocurrencies could together add $20 trillion to the global economy by 2030, according to a recent report from asset manager Bitwise.
In its report on Wednesday, Bitwise highlighted the enormous potential of merging artificial intelligence and crypto technologies. Juan León, senior cryptocurrency research analyst, emphasized that the combination of these two fields could have more impact than most people currently anticipate. “The intersection of AI and cryptocurrencies will be even bigger than people imagine,” Leon said, predicting that AI and cryptocurrencies could significantly increase global gross domestic product (GDP) by 2030.
León also spoke about the intense competition in the AI sector, which has generated enormous demand for data centers, AI chips and electricity. He noted that the four largest cloud companies are expected to invest around $200 billion in data center expansions by 2025 to meet the growing needs of AI companies.
The report further noted that Bitcoin miners have the resources to support AI companies. These resources include powerful computer chips, advanced cooling systems, and robust infrastructure. This follows CoreWeave’s recent offer to acquire miner Core Scientific. Additionally, Core Scientific announced a $3.5 billion deal to host CoreWeave’s AI services, marking the largest partnership of its kind to date. Other mining companies such as Hut 8 and Iris Energy have also started AI hosting initiatives this year.
In addition to bitcoin mining, artificial intelligence and cryptocurrencies could intersect in other areas, such as information verification and the creation of virtual assistants, adding even more value to their combined economic impact.
Also read: Bitcoin Set for Big Moves Amid Fed Decision and US Inflation