Mmastodon BusinessCrypto first seen 10 h ago, last 10 h ago, peak #12

AI and crypto boom boosts energy and oil profits

Original: Everything ties into everything else. The energy sector profits from runaway "Generative # AI " and # crypto expenditure

The argument making the rounds is that the generative AI and cryptocurrency spending boom is flowing straight into the bottom line of the energy sector, with oil and gas companies benefiting further upstream. Critics are also linking these industries to technology companies' expanding space ambitions, arguing the sectors form one interconnected system of energy-hungry, environmentally costly growth.

Why now: Concerns about the massive energy demands of AI data centres and crypto mining are resurgent as both industries keep spending heavily.

energy sectoroil and gas industrygenerative AIcryptocurrency

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Evidence

• Everything ties into everything else. The energy sector profits from runaway "Generative # AI " and # crypto expenditures. The oil and gas sector profit from the energy sector and additionally they play a key role in the destructive tech-sector designs on # space : all those… · mxchara@cyberpunk.lol

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