• The report stated that AI and crypto could contribute $20 trillion to global GDP by 2030.
  • Bitwise points out that Bitcoin miners possess all the resources AI firms require.
  • Crypto and AI can intersect in areas other than mining, such as information verification and virtual assistants.

Bitwise, a global asset manager, said that artificial intelligence (AI), along with cryptography could contribute $20 trillion to the world economy by 2030.

The intersection of AI with crypto will be bigger than anyone imagined, senior crypto analyst Juan Leon wrote. He added that “two industries can add $20 trillion to the global GDP (gross domestic product) by 2030.”

The race to be the AI leader is creating a shortage of data centers and AI chips as well as electricity, Leon stated. He noted that four major cloud providers are expected to spend $200 billion in data center construction by 2025 to meet growing AI demand.

BTC Price Index and Live Chart – CoinDesk”>(BTC) miners have all the resources that AI firms need, including powerful chips, hi-tech cooling systems and accompanying infrastructure, the report said, and CoreWeave’s takeover offer last week for miner Core Scientific (CORZ) is evidence of this demand. Core Scientific announced its largest AI/miner partnership, with a $3.5 Billion deal to host CoreWeaves AI-related services. Bitwise reports that Hut 8(HUT), Iris Energy(IREN) and others have announced AI-hosting projects this year.

The report noted that crypto and AI could intersect in areas other than bitcoin mining, including information validation and virtual assistance.

Oliver Knight is the editor.