AI and Cryptocurrency Energy Usage Expected to Skyrocket
Cryptocurrencies, primarily due to their mining processes, are projected to boost their energy consumption by at least 40% within the next two years. Concurrently, the energy expenditure for AI apps is set to increase tenfold. These findings come from the International Energy Agency’s recent report.
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Cryptocurrencies, primarily due to their mining processes, are projected to boost their energy consumption by at least 40% within the next two years. Concurrently, the energy expenditure for AI apps is set to increase tenfold. These findings come from the International Energy Agency's recent report.
For instance, ChatGPT is forecasted to consume 10 TWh annually, equivalent to the energy usage of 700,000 households in the same timeframe. Remarkably, the energy consumption of a ChatGPT-4 query is expected to be ten times greater than that of a standard Google search.
However, despite these substantial figures, the contribution of Bitcoin mining, a major factor in cryptocurrency energy costs, to the total global energy consumption is a mere 0.4%. The energy usage by AI technologies is even less. Nonetheless, this minimal percentage does not diminish the rapidly escalating energy demands associated with these technological advancements.
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