HIVE Digital Spotlights Rising Concerns: AI Energy FUD Poses Threat to Cryptocurrency Mining, Similar to Bitcoin Mining Fears
The rise of artificial intelligence (AI) has diverted attention away from Bitcoin’s environmental concerns, offering a positive perspective on the cryptocurrency.
Hive Digital Technologies, deeply rooted in both industries, believes that the energy-related worries surrounding AI will fade much like they did for Bitcoin. According to HIVE Research Director Adam Sharp. AI technology is still in its early stages, and efficiency will significantly improve in the coming years. While both Bitcoin and AI demand energy-intensive computational equipment, Sharp emphasizes that large language models like ChatGPT have the potential to enhance human productivity substantially.
Unlike Bitcoin, AI operations are not easily interruptible during energy demand spikes. Giving Bitcoin an advantage in terms of compatibility with renewable energy and energy grids. Although the growth of AI may impact Bitcoin’s hash rate as miners adapt. The transition is expected to be gradual, preventing any drastic drop in Bitcoin’s network security.
Clever Robot News Desk 4th October 2023
