Bitcoin mining and artificial intelligence (AI), while both being tech sector businesses, seem like entirely different beasts on the surface.

• One is fueled by complex algorithms that secure digital currency and back an immutable ledger.
• The other harnesses vast computational power to create text prompts, chatbots, recommendation engines and image generation, well, at least thus far, as the current iteration of AI tries to find product market fit.

As AI investment and companies have grown in the last four years, we’ve seen its hunger for resources grow exponentially. According to reports by the International Energy Agency, current data centre energy usage stood at around 460 terawatt hours in 2022. It could increase to between 620 and 1,050 TWh in 2026—equivalent to the energy demands of Sweden or Germany, respectively.

Sound familiar?

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