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By Jeff Kearns of the IMF What do crypto assets and artificial intelligence have in common? Both are power hungry. Because of the electricity used by high-powered equipment to “mine” crypto assets, one Bitcoin transaction requires roughly the same amount of electricity as the average person in Ghana or Pakistan consumes in three years. ChatGPT queries require 10 times more electricity than a Google search, due to the electricity consumed by AI data centers. As the Chart of the Week shows, crypto mining and data centers together accounted for 2% of world electricity demand in 2022. And that sha…

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