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

As an experienced analyst, I believe that the intersection of artificial intelligence (AI) and cryptocurrencies has the potential to revolutionize our economy and add a colossal $20 trillion to the global GDP by 2030. The race for AI supremacy is driving an unprecedented demand for data centers, chips, electricity, and other resources, making bitcoin miners with their powerful chips, cooling systems, and infrastructure valuable players in this game.According to a report released by asset manager Bitwise on Wednesday, the integration of artificial intelligence (AI) and cryptocurrencies into the global economy could potentially generate an estimated economic output of approximately $20 trillion by the year 2030.

According to senior crypto research analyst Juan Leon, the fusion of artificial intelligence (AI) and cryptocurrency is set to be more significant than most people anticipate. Together, these industries are projected to contribute a staggering $20 trillion to the world’s total gross domestic product (GDP) by 2030.

“The intensifying competition for advanced AI technology is leading to a unprecedented scarcity of data centers, AI processors, and power sources,” Leon remarked, adding that the top four cloud providers are projected to invest approximately $200 billion in 2025 on constructing new data centers primarily to cater to the expanding needs of AI businesses.

According to the report, Bitcoin miners are in possession of essential resources for AI companies, such as high-performance chips, advanced cooling systems, and necessary infrastructure. The recent acquisition bid by CoreWeave for Core Scientific (CORZ) serves as proof of the significant demand for these resources. Furthermore, Core Scientific also disclosed a groundbreaking $3.5 billion collaboration with CoreWeave for hosting AI-related services. Bitwise Asset Management highlights that Hut 8 (HUT), Iris Energy (IREN), and other mining companies have revealed similar initiatives to accommodate AI projects this year.