Grayscale Research Head: Computing Power Emerging as Scarce Digital Asset

Grayscale research head Zach Pandl stated on September 24 that the AI boom is creating a supply-demand imbalance for computing power. Pandl noted that while digital demand can scale instantly, physical infrastructure like power, data centers, and chips takes years to develop. With AI agents potentially consuming 5 to 50 times more compute tokens than standard chatbots, value is expected to shift toward power generators, data center operators, and AI cloud service providers who can convert electricity into compute.