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Cryptocurrency, AI Electricity Demand Seen Doubling in Three Years

Jan 24, 2024 - bloomberg.com
The International Energy Agency predicts that global electricity demand from data centers, cryptocurrencies, and artificial intelligence could more than double in the next three years, equivalent to Germany's entire power needs. Currently, there are over 8,000 data centers worldwide, with 33% in the US, 16% in Europe, and nearly 10% in China, and more are planned.

In Ireland, where data center development is growing rapidly, the sector is expected to consume 32% of the country's total electricity by 2026, up from 17% in 2022. Currently, Ireland has 82 data centers, with 14 under construction and an additional 40 approved.

Key takeaways:

  • Global electricity demand from data centers, cryptocurrencies and artificial intelligence could more than double over the next three years, equivalent to Germany’s entire power needs, according to the International Energy Agency.
  • There are over 8,000 data centers globally, with about 33% in the US, 16% in Europe and close to 10% in China, and more are planned.
  • In Ireland, where data centers are developing rapidly, the sector is expected to consume 32% of the country’s total electricity by 2026, up from 17% in 2022.
  • Ireland currently has 82 data centers, with 14 under construction and 40 more approved.
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