Carbon Emissions from AI and Crypto are Surging– and Tax Policy Can Help

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.