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Bitcoin Nears Record High Amid Market Volatility

Bitcoin Approaches All-Time High Amid Market Volatility In the fast-paced world of cryptocurrency, Bitcoin continues to make headlines as it flirted with its all-time high of \(72,000 early Monday morning. After a shaky start to April, where it ended the first week below its 2021 peak of \) 69,044, Bitcoin has shown resilience with a notable surge in value. This raises questions about the underlying factors influencing these shifts and the potential implications for investors navigating this unpredictable landscape. Recent Market Movements Steady Gains Over the Weekend : Bitcoin experienced a modest increase of nearly 2% over Saturday and Sunday, according to data from CoinGecko. Significant Price Jump : As Europe began its trading day, Bitcoin's price surged by 4.45% within a span of 12 hours. Futures Market Activity : The increase in Bitcoin's price coincided with a rise in BTC futures open interest, indicating growing investor interest. Liquidation Events The r...

Unveiling the Environmental Impact of AI: A Groundbreaking Report by Digiconomist Founder Alex de Vries

In a new report released by Digiconomist founder Alex de Vries, the environmental impact of artificial intelligence (AI) is brought to the forefront. The report focuses on the training and inference phases of AI models, highlighting the often overlooked contribution of the inference phase to the overall lifecycle cost of an AI model. De Vries draws parallels between AI developers' claims of using renewable energy and those made by cryptocurrency companies, pointing out the negative economic and environmental consequences of constructing large data centers for AI models.

The Environmental Impact of AI

The report by Alex de Vries sheds light on an important and often overlooked aspect of AI development - its environmental impact. While much attention has been given to the energy consumption of AI during the training phase, the inference phase is found to be equally significant in terms of its contribution to the overall lifecycle cost of an AI model. This finding challenges the prevailing notion that the environmental impact of AI is limited to the training phase alone.

Parallels with Cryptocurrency Companies

De Vries draws parallels between AI developers' claims of using renewable energy and those made by cryptocurrency companies. In both cases, the construction of large data centers is required to support the computational requirements of the respective technologies. However, the construction of these data centers has negative economic and environmental consequences. The report highlights the need for a more comprehensive approach to assessing the environmental impact of AI, one that takes into account the entire lifecycle of an AI model.

The Need for Sustainable AI Development

The findings of the report underscore the importance of sustainable AI development. As AI continues to proliferate across industries, it is imperative that we address its environmental impact. AI developers must take into account the energy consumption and carbon footprint associated with both the training and inference phases of AI models. This requires a shift towards renewable energy sources and more efficient computing infrastructure.

Conclusion

The report by Alex de Vries serves as a wake-up call for the AI industry and environmental groups alike. It highlights the significant contribution of the inference phase to the overall lifecycle cost of an AI model and draws attention to the negative economic and environmental consequences of constructing large data centers. As AI technologies continue to advance, it is crucial that sustainability remains at the forefront of AI development. Only through a concerted effort to reduce the environmental impact of AI can we ensure a sustainable future for this transformative technology.

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