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Electricity demand to double in 3 years. How AI and mining play a part

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Electricity demand worldwide could double over the next three years, mainly due to cryptocurrency mining and artificial intelligence. How will crypto keep up?

AI and cryptocurrencies accounted for almost 2% of global electricity demand in 2022, which illustrates the scale of their energy impact. This increase is mainly due to the growing complexity and volume of computing operations for artificial intelligence and the ever-increasing number of cryptographic transactions.

According to a recent report from Bloomberg, which cites the International Energy Agency, global demand for electricity from data centers, cryptocurrencies, and artificial intelligence could more than double over the next three years, amounting to the equivalent of Germany’s entire electricity demand.

Source: International Energy Agency

AI’s appetite to grow

Artificial intelligence (AI) has become an integral part of modern life, streamlining various aspects. However, its extensive integration raises concerns about a substantial surge in energy consumption. According to Alex de Vries, a graduate student at the University of Amsterdam Free University, the global AI infrastructure might demand an energy equivalent to that of an entire country.

It’s been nearly a year since the AI industry entered a phase of rapid expansion triggered by the introduction of the OpenAI ChatGPT AI chatbot. The training and operation of neural networks, such as the one powering this service, involve a notably energy-intensive process. Hugging Face, an AI-developing company and a key contributor to large language models,

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Author: Anna Kharton

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