The Great Blackout, AI, and cryptocurrency
Join Our Telegram channel to stay up to date on breaking news coverage At the moment, cryptocurrencies use more than 1% of the world’s energy. Although one percent itself may not be concerning, the rate of growth is. And there are other monsters besides cryptocurrencies. Another electricity-hungry beast that has recently awakened is AI. Let’s examine these two graphs together: Like all other sectors, the energy industry can withstand some turmoil. The annual variation in energy use is between 1% and 4%. (depending on the country and infrastructure qualities). The grid won’t be affected as long as the energy usage of cryptocurrencies is less than 1%. Any amount higher than that will result in blackouts. We are getting close to 2% of pressure at the moment. Blackouts returned to emerging nations two years ago. To address this, some nations started to outlaw bitcoin mining. Eastern Europeans had to borrow electricity from western Europeans last fall afte...