The International Energy Agency (IEA) is forecasting a significant rise in energy consumption due to artificial intelligence (AI) while also highlighting cryptocurrency as a high-energy-consuming sector.
As the electricity market evolves to meet climate change goals, both cryptocurrency mining and AI industries are expected to undergo substantial shifts in energy usage.
The IEA's 2024 report projects energy consumption trends up to 2026 and stresses that not all energy consumption news is negative.
It mentions that power generation, a major CO2 emissions contributor, is leading the transition to net-zero emissions, with renewable energy sources becoming dominant by 2025.
The report cites China and India as major contributors to the expected increase in energy usage.