Juan Leon, senior cryptocurrency research analyst at digital asset management company Bitwise, issued a report on Tuesday saying that the intersection of artificial intelligence (AI) and cryptocurrency will be greater than people imagine, and one of the opportunities for cooperation between the two industries is , is an emerging partnership between Bitcoin miners and AI.
Juan Leon mentioned that the battle for AI hegemony has led to unprecedented shortages of data centers, AI chips and power supplies. The world's four major cloud computing companies, including Amazon, Google, Meta, and Microsoft, are expected to spend nearly 200 billion US dollars building data centers in 2025. Mainly to meet the growing demand for AI.
However, a March report from commercial real estate company CBRE Group showed that 83% of data centers still under construction have been rented in advance. AI companies and cloud service providers are the main sources of demand. Unable to keep up with the AI craze.
The report believes that this is the advantage of miners. Although ASICs dedicated to Bitcoin mining are not suitable for AI purposes, the storage and cooling system infrastructure of mining companies, coupled with the ability to obtain cheap electricity on a large scale, are what AI desires. H.
As an example, the report pointed out that last week, AI startup CoreWeave proposed to acquire Bitcoin mining company Core Scientific for US$1.6 billion, 55% higher than its market price. It was subsequently rejected. Core Scientific then announced a 35- year agreement with cloud computing provider CoreWeave. The US$120 million, 12-year cooperation agreement will host CoreWeave's AI-related services in its data centers for the next 12 years.
Mining companies such as Hut 8 and Iris Energy have also announced similar AI hosting plans in recent months.
Further reading: Mining company Core Scientific signs a 12-year contract with an AI company! Estimated revenue exceeds 3.5 billion magnesium
Other AI+ Crypto Opportunities
Juan Leon believes that in addition to the diversified business development of mining companies, blockchain-based verification is another opportunity for the intersection of cryptocurrency and AI. Risks related to AI generation and Deepfake are still worrying, and new projects are seeking to take advantage of it. The accessibility, transparency and immutability of the decentralized public chain can be used to deal with the abuse of AI technology.
Another potential application case is virtual assistants. Combining AI assistants with smart contracts, digital native currencies such as Bitcoin or stablecoins may open up new ways to further improve people's productivity.
