{"id":15107,"date":"2024-07-10T17:58:36","date_gmt":"2024-07-10T14:58:36","guid":{"rendered":"https:\/\/forklog.com\/en\/the-convergence-of-ai-and-cryptocurrency-miners-transition-to-data-centers-and-filecoin-partners-with-singularitynet\/"},"modified":"2024-07-10T17:58:36","modified_gmt":"2024-07-10T14:58:36","slug":"the-convergence-of-ai-and-cryptocurrency-miners-transition-to-data-centers-and-filecoin-partners-with-singularitynet","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/the-convergence-of-ai-and-cryptocurrency-miners-transition-to-data-centers-and-filecoin-partners-with-singularitynet\/","title":{"rendered":"The Convergence of AI and Cryptocurrency: Miners Transition to Data Centers and Filecoin Partners with SingularityNET"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Miners are attractive partners for AI companies and will shift their capacities to the neural network sector, experts at Bernstein concluded.<\/li>\n<li>SingularityNET and Filecoin announced a partnership to unite two fields\u2014artificial intelligence and decentralized physical infrastructure.<\/li>\n<\/ul>\n<\/div>\n<p>Artificial intelligence and the crypto industry are increasingly interlinked. Miners can offer their capacities to AI companies, and firms in these two sectors are entering mutually beneficial agreements.<\/p>\n<h2 class=\"wp-block-heading\">Experts Predict 20% of Mining Capacity to Shift to AI<\/h2>\n<p>Miners are appealing partners for creating AI data centers due to their access to power sources and operational capabilities, according to a Bernstein report cited by <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/07\/10\/bitcoin-miners-are-attractive-partners-to-build-artificial-intelligence-data-centers-bernstein\/\">CoinDesk<\/a>.\u00a0<\/p>\n<p>Recent AI sector deals, including a 12-year agreement between mining company Core Scientific and AI firm CoreWeave, and Coatue Management&#8217;s $150 million investment in Hut 8, have been key catalysts for the sector&#8217;s development, experts noted.\u00a0<\/p>\n<p>Bernstein highlighted that miners have secured large electricity supplies. Currently, they have access to about 6 GW, which is expected to double by 2027.\u00a0<\/p>\n<p>Digital asset mining firms have an advantage in the queue for connecting to high-volume electricity networks and can help partners reduce the time needed to secure power supplies.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBitcoin data centers are ideally suited for upgrades due to their powerful servers, cooling infrastructure, and operational capabilities,\u201d analysts wrote.\u00a0<\/p>\n<\/blockquote>\n<p>According to their forecasts, by the end of 2027, 20% of bitcoin mining capacity will be redirected to artificial intelligence, with the five largest American digital gold miners accounting for 25% of the global hash rate.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">SingularityNET Partners with Filecoin\u00a0<\/h2>\n<p>Developers of the AI platform SingularityNET and the data storage network Filecoin announced a partnership to unite the fields of artificial intelligence and <a href=\"https:\/\/forklog.com\/en\/news\/tokens-for-noise-and-a-web3-alternative-to-google-maps-the-most-interesting-depin-projects\">DePIN<\/a>, while maintaining decentralization, ethical neural networks, and information reliability.<\/p>\n<p>According to a press release presented by <a href=\"https:\/\/cointelegraph.com\/news\/singularitynet-filecoin-partnership-ai-depin?utm_source=rss_feed&#038;utm_medium=rss&#038;utm_campaign=rss_partner_inbound\">Cointelegraph<\/a>, the partnership will establish a specialized group to ensure AI development and implementation in line with ethical standards.\u00a0<\/p>\n<p>The partnership&#8217;s goals are time-dependent:<\/p>\n<ul class=\"wp-block-list\">\n<li>Short-term \u2014 SingularityNET will use Filecoin&#8217;s Lighthouse SDK solution for metadata storage;<\/li>\n<li>Medium-term \u2014 Integration of Filecoin&#8217;s technology stack into SingularityNET to enhance security and support data storage infrastructure generated by AI;<\/li>\n<li>Long-term \u2014 Use of Filecoin for managing <span data-descr=\"Knowledge Graph, provides structured and detailed information about a topic in addition to a list of links to other sites. The goal is for users to use this information to resolve their queries without needing to visit other sites and gather information themselves.\" class=\"old_tooltip\">\u201cKnowledge Graphs\u201d<\/span>.<\/li>\n<\/ul>\n<p>Ultimately, the companies aim to create a superintelligent AI on decentralized infrastructure. Tokens from the <a href=\"https:\/\/forklog.com\/en\/news\/ai-blockchain-projects-unite-to-form-asi-token\">Artificial Superintelligence alliance<\/a> (ASI) and Filecoin (FIL) will be used in new solutions.\u00a0<\/p>\n<p>According to Bitwise estimates, cryptocurrencies and neural networks will add $20 trillion to global GDP by 2030.\u00a0<\/p>\n<p>Back in May 2023, miners offered computing power to AI developers.\u00a0<\/p>\n<p>In April 2024, CoinShares <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-miners-eye-ai-and-diversification-post-halving\">forecasted<\/a> increased diversification into the artificial intelligence sector by digital currency miners.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Miners are attractive partners for AI companies and will shift their capacities to the neural network sector, experts at Bernstein concluded. SingularityNET and Filecoin announced a partnership to unite two fields\u2014artificial intelligence and decentralized physical infrastructure. Artificial intelligence and the crypto industry are increasingly interlinked. Miners can offer their capacities to AI companies, and firms [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,1137,1488,1150,1467],"class_list":["post-15107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-cryptocurrency-mining","tag-filecoin-fil","tag-news-plus","tag-singularitynet"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15107"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15106"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}