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BNEF: U.S. data centers may account for 20% of electricity consumption by 2035, Bitcoin mining companies are accelerating the shift to AI computing power

Bloomberg New Energy Finance (BNEF) latest forecast shows that by 2035, electricity consumption by data centers in the United States will account for about 20% of the nation's total electricity consumption, a significant increase from the current level of about 5.9%. The agency has raised its forecast for data center electricity demand in 2035 to 106 GW, which is 36% higher than the 78 GW predicted in April this year. Currently, the operating capacity of data centers in the U.S. is about 40 GW, accounting for approximately 3.5%-4% of the national electricity demand, while under BNEF's baseline scenario, this proportion is expected to reach 8.6% by 2035. The high-growth model from the Electric Power Research Institute (EPRI) indicates that if the combined effects of cryptocurrency mining and AI computing power are taken into account, the upper limit of this proportion also points to 20%.In response to the explosive growth in AI computing power demand, Bitcoin mining companies are actively transforming. Companies like Core Scientific and Riot Platforms have partnered with tech giants such as AWS and Google to convert their existing mining sites into AI data centers. Currently, Bitcoin mining companies have secured about 6 GW of electricity capacity, which is expected to expand to 12 GW by 2027, with some analysts estimating that about 20% of mining companies' computing power capacity will shift towards AI workloads by then. Data from the Electric Reliability Council of Texas (ERCOT) shows that data centers now account for about 90% of local large load applications, with many sites originally used for cryptocurrency mining being repurposed as AI computing facilities. This trend is also directly reflected in the capital markets, as Core Scientific has seen a significant rebound in its stock price after emerging from bankruptcy and partnering with AI cloud service provider CoreWeave.

Ant International completes approximately $1.2 billion Series A financing, with participation from Ant Group, Alibaba, and others

Ant International announced the completion of its Series A financing. Ant Group and several existing shareholders, including Alibaba, as well as multiple internationally renowned investment institutions participated in this round of financing. It is reported that the financing amount is approximately $1.2 billion, which will be used to expand global operations, accelerate investment in cutting-edge technologies such as AI, broaden inclusive fintech services like cross-border payments and global accounts, and help global merchants achieve growth.On March 19, 2024, Jing Xiandong announced that Ant International, OceanBase, and Ant Digital, all under Ant Group, have established their respective boards of directors and are independently facing the market. Currently, the chairman of Ant International is Jing Xiandong. Ant International's business covers major markets in Asia, Europe, the Middle East, and Latin America, connecting over 150 million global merchants and more than 2 billion consumer accounts, with innovation, settlement, and operation centers located in Shanghai, Hong Kong, Singapore, and Malaysia. Currently, Ant International has four major business segments: Alipay+, Antom, WorldFirst, and Bettr, which focus on enhancing global payment connectivity, developing technology-driven merchant payment, treasury management, and fintech solutions, and building a broad cooperation network with domestic and foreign financial institutions, technology companies, and merchants.
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