Crypto and AI: A Potential $20 Trillion Megatrend

Artificial intelligence (AI) and cryptocurrency could collectively contribute an astonishing $20 trillion to the global economy by 2030, according to a recent report by asset manager Bitwise.

“The intersection of AI and crypto is going to be even bigger than people imagine,” stated Juan Leon, a senior crypto research analyst at Bitwise. He emphasized that these two industries could significantly boost global gross domestic product (GDP) by 2030.

Leon pointed out that the race for AI supremacy is driving a massive demand for data centers, AI chips, and electricity. The four largest cloud companies are projected to spend approximately $200 billion on data center expansions by 2025, primarily to meet the needs of AI firms.

The report highlights that Bitcoin (BTC) miners are well-equipped with resources essential for AI companies, such as powerful chips, advanced cooling systems, and robust infrastructure. An example of this synergy is CoreWeave’s recent takeover offer for miner Core Scientific (CORZ). Core Scientific also announced the largest miner/AI partnership to date, a $3.5 billion deal to host CoreWeave’s AI-related services. Additionally, other miners like Hut 8 (HUT) and Iris Energy (IREN) have initiated AI-hosting projects this year.

Beyond Bitcoin mining, the potential intersections of crypto and AI include areas like information validation and virtual assistants, according to the report.

These developments underscore the growing convergence of AI and crypto, positioning them as a combined megatrend with significant economic implications for the future.

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