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Sam Bankman-Fried will not face a second trial – CTV News

NEW YORK -

A second trial of FTX founder Sam Bankman-Fried on charges not in the cryptocurrency fraud case presented to a jury that convicted him in November is not necessary, prosecutors told a judge Friday.

Prosecutors told U.S. District Judge Lewis A. Kaplan in a letter that evidence at a second trial would duplicate evidence already shown to a jury. They also said it would ignore the "strong public interest in a prompt resolution" of the case, particularly because victims would not benefit from forfeiture or restitution orders if sentencing is delayed.

They said the judge can consider the evidence that would be used at a second trial when he sentences Bankman-Fried on March 28 for defrauding customers and investors of at least US$10 billion.

Bankman-Fried, 31, who has been incarcerated since several weeks before his trial, was convicted in early November of seven counts, including wire fraud, wire fraud conspiracy and three conspiracy charges. He could face decades in prison.

Last spring, prosecutors withdrew some charges they had brought against Bankman-Fried because the charges had not been approved as part of his extradition from the Bahamas in December 2022. They said the charges could be brought at a second trial to occur sometime in 2024.

However, prosecutors at the time said that they would still present evidence to the jury at the 2023 trial about the substance of the charges.

The charges that were temporarily dropped included conspiracy to make unlawful campaign contributions, conspiracy to bribe foreign officials and two other conspiracy counts. He also was charged with securities fraud and commodities fraud.

In their letter to Kaplan, prosecutors noted that they introduced evidence about all of the dropped charges during Bankman-Fried's monthlong trial.

They said authorities in the Bahamas still have not responded to their request to bring the additional charges at a second trial.

A lawyer for Bankman-Fried declined comment.

A conviction on the additional charges would not result in a potential for a longer prison sentence for Bankman-Fried, prosecutors said.

"Proceeding with sentencing in March 2024 without the delay that would be caused by a second trial would advance the public's interest in a timely and just resolution of the case," prosecutors wrote. "The interest in avoiding delay weighs particularly heavily here, where the judgment will likely include orders of forfeiture and restitution for the victims of the defendant's crimes."

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Cryptocurrency NEAR Protocol Down More Than 3% Within 24 hours By Benzinga – Investing.com UK

Benzinga - by Benzinga Insights, Benzinga Staff Writer.

NEAR Protocol's (CRYPTO: NEAR) price has decreased 3.79% over the past 24 hours to $3.64. This is contrary to the coins performance over the past week where it has experienced an up-trend of 9.0%, moving from $3.33 to its current price.

The chart below compares the price movement and volatility for NEAR Protocol over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 45.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 0.93%. This brings the circulating supply to 1.01 billion. According to our data, the current market cap ranking for NEAR is #26 at $3.69 billion.

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BDCTP GLOBAL Leading the Digital Transformation of the Cryptocurrency Market – Macau Business

SINGAPORE Media OutReach Newswire 29 December 2023 During a crucial period of digital transformation in the cryptocurrency market, BDCTP GLOBAL exchange has emerged as a leader in this era of change. With its innovative technology and forward-thinking ecosystem services, BDCTP GLOBAL is shaping the future of the cryptocurrency market.

Recently, BDCTP GLOBAL announced that its platform has successfully integrated the advantages of both centralized and decentralized trading, establishing new standards in the field of cryptocurrency trading through continuous technological innovation. One of the co-founders of BDCTP GLOBAL, Gavin Antonopoulos, stated, As the market rapidly grows and evolves, BDCTP GLOBAL is at the forefront of leading the digital transformation of the cryptocurrency market.

BDCTP GLOBALs technological infrastructure utilizes distributed and multi-layered designs, effectively enhancing the systems resistance to attacks and fault recovery speed. In 2022, the platform successfully processed over 10 million transactions, proving its exceptional technical strength and market adaptability. Furthermore, the efforts of BDCTP GLOBAL in protecting user data security and enhancing transaction transparency have played a key role in the stability and healthy development of the cryptocurrency market.

Gavin Antonopoulos said, BDCTP GLOBAL plans to further expand its range of products and services, including integrating DeFi and NFT technologies, to enhance user experience and regulatory compliance. We also aim to obtain more regulatory permissions in key markets and establish partnerships in emerging markets by the end of 2024, achieving global expansion.

To meet diverse user needs, BDCTP GLOBAL offers a variety of trading products, including spot trading, contract trading, and options trading. The platforms Launchpad and cryptocurrency financial products have attracted over 500,000 active users, demonstrating its market appeal and influence. BDCTP Academy and BDCTP Labs, as industry think tanks and drivers of technological innovation, have laid a solid foundation for the future development of cryptocurrencies.

In an era filled with challenges and opportunities for digital transformation, BDCTP GLOBAL, with its continuous innovation and technological advancements, has become a significant force in the transformation of the cryptocurrency market. This visionary trading platform is shaping a more flexible, transparent, and secure cryptocurrency environment and is expected to continue leading the industry towards broader development horizons.

Hashtag: #BDCTP

The issuer is solely responsible for the content of this announcement.

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Cryptocurrency Bitcoin Cash Falls More Than 3% In 24 hours By Benzinga – Investing.com UK

Benzinga - by Benzinga Insights, Benzinga Staff Writer.

Over the past 24 hours, Bitcoin Cash's (CRYPTO: BCH) price has fallen 3.31% to $255.93. This is opposite to its positive trend over the past week where it has experienced a 8.0% gain, moving from $237.08 to its current price.

The chart below compares the price movement and volatility for Bitcoin Cash over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has increased 78.0% over the past week while the overall circulating supply of the coin has increased 0.25% to over 19.60 million which makes up an estimated 93.33% of its max supply, which is 21.00 million. The current market cap ranking for BCH is #22 at $5.02 billion.

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Unveiling the Finest Cryptocurrency: A Trendsetter’s Guide – CryptoDaily

Table of Contents

Embarking on the journey of understanding cryptocurrencies can be as thrilling as it is challenging. With the digital currency landscape constantly evolving, keeping pace with the latest trends and innovations is vital for anyone looking to make informed decisions in this arena. This guide offers a comprehensive overview of the cryptocurrency world, from the fundamentals of blockchain technology to advanced investment strategies.

It's tailored for both newcomers eager to make their first foray into digital currencies and seasoned investors looking to diversify and deepen their portfolio. Our goal is to demystify the complexities of cryptocurrencies and provide you with the knowledge and tools needed to navigate this exciting digital frontier confidently.

Delving into the world of digital currencies, one encounters a realm where technology and finance converge in the form of cryptocurrency. This innovative form of money operates independently of traditional banking systems, utilizing blockchain technology to ensure secure and decentralized transactions.

Understanding how cryptocurrencies work involves grasping the concepts of cryptography for security, the process of mining for new coins, and the intricate workings of decentralized ledgers. This exploration provides a foundational understanding of not just what cryptocurrencies are, but also how they function in a digital economy, offering a new perspective on money in an increasingly connected and digital world.

In the ever-evolving landscape of digital finance, identifying the hallmarks of a trendsetting cryptocurrency is key to discerning its potential impact and longevity. Such cryptocurrencies typically exhibit innovative features, robust security protocols, and a strong community support, setting them apart in a crowded market. They often lead the way in integrating advanced technologies like smart contracts, offering improved scalability, or pioneering in areas of sustainability and governance.

Equally important is their adoption in real-world applications, from retail transactions to more niche sectors, exemplifying their versatility and user trust. As these trendsetting cryptocurrencies pave the way for new financial paradigms, their influence extends to various domains, including the burgeoning sector of online digital currency platforms, epitomized by entities like the best cryptocurrency casinos.

Bitcoin, often hailed as the original trendsetter in the cryptocurrency world, stands as a testament to the potential and resilience of digital currencies. Launched in 2009 by an enigmatic figure known as Satoshi Nakamoto, Bitcoin introduced the world to the concept of decentralized finance through blockchain technology. Its revolutionary design eliminated the need for traditional financial intermediaries, offering a peer-to-peer system for secure, transparent transactions.

Over the years, Bitcoin has not only become a household name but has also set the standard for market value, security, and investor interest. Its role as a digital gold and a store of value continues to influence the development of new cryptocurrencies, shaping the future of finance and challenging conventional monetary systems. As Bitcoin maintains its dominance in the market, it serves as a benchmark for innovation and an anchor for stability in the volatile world of cryptocurrencies.

Ethereum, transcending its role as just another digital currency, has established itself as a pivotal platform in the cryptocurrency domain. Launched in 2015, it introduced the concept of smart contracts, self-executing contracts with the terms of the agreement directly written into lines of code. This innovation expanded the use of blockchain technology far beyond mere financial transactions, enabling decentralized applications (DApps) and paving the way for a vast array of use cases, from decentralized finance (DeFi) to non-fungible tokens (NFTs).

Ethereum's ability to facilitate these applications has made it a cornerstone in the blockchain community, fostering a robust ecosystem of developers and projects. As Ethereum continues to evolve with upgrades like Ethereum 2.0, which aims to enhance scalability and energy efficiency, it reinforces its position not just as a cryptocurrency, but as a comprehensive platform driving the future of decentralized technology.

Beyond Bitcoin and Ethereum, the cryptocurrency landscape is dotted with a plethora of notable contenders, each carving out their unique niches. Cryptocurrencies like Ripple (XRP) streamline international money transfers, aiming to revolutionize traditional banking networks with faster and more cost-effective solutions. Litecoin, often regarded as the silver to Bitcoin's gold, offers quicker transaction times and a different hashing algorithm, appealing to those seeking alternative mining options.

Cardano stands out with its research-driven approach, emphasizing sustainability and scalability in its blockchain development. Meanwhile, Polkadot and Chainlink are gaining traction for their interoperability and reliable data feeds, respectively, addressing critical needs in the blockchain ecosystem. These cryptocurrencies, among others, contribute to a diverse and dynamic market, each offering distinct features and innovations that cater to various user needs and industry demands, reflecting the vibrant evolution of the cryptocurrency space.

When delving into cryptocurrency investments, it's crucial to approach with a well-informed and strategic mindset. Cryptocurrency markets are known for their volatility, making risk assessment and management paramount. Investors should start by gaining a solid understanding of the technology and market trends, keeping abreast of regulatory changes and potential impacts on various coins. Diversification is key, as spreading investments across different cryptocurrencies can mitigate risk.

It's also important to consider the liquidity of a cryptocurrency, as this affects the ease of buying and selling in the market. Long-term potential should be weighed against short-term gains, with an eye on how a particular currency is positioned for future growth and adoption. Security practices, including safe storage of digital assets, are essential to protect investments. Lastly, investors should be wary of hype and conduct thorough research, as informed decision-making is crucial in the dynamic and often speculative world of cryptocurrency investing.

As we look towards the horizon, the future of cryptocurrency appears both promising and multifaceted. This digital financial landscape is poised for continued evolution, driven by technological advancements, increasing mainstream adoption, and an ever-growing recognition of its potential by businesses and governments alike. The ongoing development of blockchain technology, coupled with the rise of decentralized finance and the expanding use of cryptocurrencies in diverse sectors, heralds a new era of innovation and opportunity.

However, this journey is not without its challenges, including regulatory landscapes and market volatility, which will shape the path forward. Ultimately, the enduring impact of cryptocurrencies will hinge on their ability to seamlessly integrate into everyday financial systems, redefine our understanding of money, and democratize access to global financial services. In this dynamic and evolving world, the potential of cryptocurrencies is not just in the wealth they represent but in the transformative possibilities they hold for our global financial system.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Cryptocurrency Cosmos Hub Falls More Than 3% In 24 hours By Benzinga – Investing.com UK

Benzinga - by Benzinga Insights, Benzinga Staff Writer.

Cosmos Hub's (CRYPTO: ATOM) price has decreased 3.82% over the past 24 hours to $10.97, continuing its downward trend over the past week of -2.0%, moving from $11.24 to its current price.

The chart below compares the price movement and volatility for Cosmos Hub over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has tumbled 25.0% over the past week while the circulating supply of the coin has risen 30.48%. This brings the circulating supply to 380.80 million. According to our data, the current market cap ranking for ATOM is #24 at $4.18 billion.

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Binance Founder’s Fortune Ballooned by $25 Billion in 2023 – PYMNTS.com

Despite a turbulent year for his company,Binancesfounder is ending 2023 $25 billion richer.

Changpeng CZ Zhaos net worth is now an estimated $37 billion, putting him in the company of a number of high-profile cryptocurrency figures whose fortunes surged this year, Bloomberg News reported Tuesday (Dec. 26).

Investment in crypto is not for the faint of heart; you need to be prepared for the spectacular ups and downs, Campbell Harvey, a finance professor at Duke University who studies digital-asset markets, told Bloomberg. There is a reason that these investors are billionaires, and it is not luck. They are not tempted to dump their holdings in down markets. They believe in the long-term opportunities this space offers.

As Bloomberg reported, Zhaos accumulated wealth for the year is more than five times the amount his company paid in fines to U.S. regulators this year. His fortune comes from this controlling stake in Binance,the largest crypto exchange in the world. It is also considerably lower than it was last year, when it was estimated at $97 billion, the Bloomberg report said.

The company has benefited from an increase in trading that came as the cryptocurrency market rebounded this year.

However, Binance saw its share of troubles this year as well, with the Securities and Exchange Commission suing the company in June.

And last month, Zhao and the companypleaded guilty to anti-money laundering and U.S. sanctions violations as part of a settlement agreement with the U.S. government. As part of that agreement, Zhao agreed to pay a $50 million fine and step down as chief executive, though he still maintains an ownership stake in the exchange.

Zhao is scheduled to besentenced in February, and could get up to 18 months in prison, though the Justice Department could seek a more severe jail term.

Last month, a federal judge ordered Zhao toremain in the U.S.after prosecutors argued his vast fortune and residency in the United Arab Emirates makes him a flight risk.

The Bloomberg report includes a list of other crypto entrepreneurs who saw their wealth increase this year.

Among them isCoinbaseCEOBrian Armstrong (whose fortune grew by $5.8 billion to $7.2 billion), Coinbase co-founderFred Ehrsam($1.8 billion in 2023 to roughly $2.5 billion) andGeminico-foundersTylerandCameron Winklevoss($1.4 billion growth to reach $2.7 billion).

Like Binance, both companies have spent the year battling with regulators.

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Cryptocurrency Injective Up More Than 5% In 24 hours By Benzinga – Investing.com UK

Benzinga - by Benzinga Insights, Benzinga Staff Writer.

Injective's (CRYPTO: INJ) price has increased 5.36% over the past 24 hours to $37.18, which is in the opposite direction of its trend over the past week, where it has experienced a 4.0% loss, moving from $38.71 to its current price. As it stands right now, the coin's all-time high is $44.57.

The chart below compares the price movement and volatility for Injective over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 42.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 0.21%. This brings the circulating supply to 84.26 million. According to our data, the current market cap ranking for INJ is #31 at $3.13 billion.

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Mastering the Cloud: Essential Tips for Effective Cloud Computing – Medium

Cloud computing has become an integral part of our digital landscape, revolutionizing the way we store, access, and share data. From individuals to businesses, the benefits of cloud computing are vast, but navigating this vast technological terrain can be overwhelming. In this article, well explore essential tips to help you master the cloud and make the most of its capabilities.

In the ever-evolving landscape of technology, cloud computing stands as a pivotal force, reshaping the way we interact with data and digital resources. The cloud has transcended its initial role as a mere storage solution, becoming a dynamic ecosystem that empowers individuals and organizations alike. This article delves into the heart of cloud computing, unraveling essential tips and strategies to help you not only navigate the complexities of the cloud but also to unlock its full potential.

As we increasingly rely on digital platforms for work, collaboration, and personal endeavors, a profound understanding of cloud computing is no longer a luxury but a necessity. From the fundamental principles of cloud storage to the intricacies of collaborative tools and data security measures, this exploration aims to equip you with the knowledge to traverse the cloud with confidence.

Cloud storage allows you to store and access your data over the internet, eliminating the need for physical storage devices. Popular cloud storage providers include Google Drive, Dropbox, and OneDrive. Understanding the basics of how cloud storage works is crucial for effective utilization.

One common pitfall users face is a disorganized cloud space. Take advantage of folder structures and naming conventions to keep your files well-organized. This not only improves efficiency but also makes it easier to locate specific files when needed.

Cloud storage platforms often come with collaboration features that enable real-time editing and sharing. Leverage these tools for seamless collaboration on projects, whether youre working on a team project or sharing family photos.

The rise of remote work has made collaborative cloud tools more essential than ever. Platforms like Microsoft Teams, Slack, and Asana facilitate communication, project management, and file sharing among team members, regardless of geographical locations.

Cloud-based video conferencing tools like Zoom and Microsoft Teams have become indispensable for virtual meetings. Familiarize yourself with the features these tools offer, such as screen sharing and breakout rooms, to enhance your virtual collaboration experience.

While collaboration is essential, its equally important to prioritize security when sharing sensitive information. Understand the sharing settings on your cloud platforms and implement appropriate access controls to protect your data.

Data loss can be catastrophic, whether due to hardware failure, accidental deletion, or other unforeseen circumstances. Regularly backing up your data to the cloud ensures that you can recover important information in case of an emergency.

Many cloud services offer automated backup solutions. Take advantage of these features to schedule regular backups without manual intervention. This ensures that your data is consistently protected without requiring constant attention.

Creating backups is only half the battle; you must also test the recovery process. Regularly simulate data restoration to ensure that your backup strategy is effective and that you can quickly recover your files when needed.

For professionals seeking to extract insights from vast datasets, cloud computing offers powerful data analytics tools. Delve into platforms like Google BigQuery and Amazon Redshift, understanding how to leverage cloud-based analytics for informed decision-making.

One of the inherent strengths of the cloud is its scalability. Learn how to dynamically adjust your computing resources based on demand, optimizing costs and performance. Platforms like AWS EC2 and Azure Virtual Machines offer a playground for flexible computing power.

Enter the realm of serverless computing, where you can focus on code without the hassle of managing servers. Explore services like AWS Lambda and Azure Functions, unlocking the potential for efficient, cost-effective application development.

Security is paramount in the digital era. Uncover encryption best practices to protect your data both in transit and at rest. Understand the nuances of encryption algorithms and how to implement them across different cloud services.

Navigate the complex landscape of Identity and Access Management, ensuring that only authorized users have the right level of access to your cloud resources. Platforms like AWS IAM and Azure Active Directory play a crucial role in safeguarding your digital fortress.

For businesses dealing with sensitive data, compliance with industry regulations is non-negotiable. Dive into cloud governance frameworks, exploring how to maintain compliance with standards like GDPR, HIPAA, and more.

Cloud services operate on diverse pricing models. Equip yourself with the knowledge to decipher these models, understanding how to optimize costs based on your usage patterns. Explore tools like AWS Cost Explorer and Azure Cost Management for insightful cost analysis.

Implement resource tagging strategies to track and manage your cloud expenses effectively. Tags allow you to allocate costs to specific projects or departments, providing granular control over your budgeting and spending.

In conclusion, mastering the cloud involves more than just storing data online. It requires a comprehensive understanding of cloud storage, collaborative tools, and data backup best practices. By implementing these tips, you can harness the full potential of cloud computing, whether youre an individual user or part of a remote-working team. Stay organized, embrace collaboration, and prioritize data security to make your cloud experience seamless and productive. The cloud is a powerful tool use it wisely, and it will undoubtedly enhance your digital lifestyle.

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The cloud’s heavy toll on natural resources (rerun) – Marketplace

This episode originally aired on August 22.

The thing we call the cloud might sound harmless, but that seemingly abstract place where the details of your digital life are stored takes a heavy toll on the environment.

No, this cloud isnt floating in the air. Its millions of individual computer servers running inthousands of data warehousesaround the world. And were outsourcing more of our data storage and everyday computing there all the time.

If those servers fail, you might lose access to your emails, your precious photos or that presentation youre editing with colleagues in real time. To prevent that from happening, the servers have to run 24/7, which takes a lot of power and other resources too.

Marketplaces Lily Jamali spoke with Steven Gonzalez Monserrate, a postdoctoral researcher in the Fixing Futures training group at Goethe University in Frankfurt, Germany, about his research on cloud data centers and their effect on the health of the planet.

The following is an edited transcript of their conversation.

Steven Gonzalez Monserrate:The cloud is a metaphor. What were really referring to is a vast set of infrastructures that are mostly based on the ground and are threaded through the ocean in fiber-optic cables and an undersea network of cables. Satellites and cellular towers are supplementary to that, but the primary signal traffic is still happening on the ground and under the ocean. If we use the metaphor of a cloud, we dont think of clouds as something that is polluting. In fact, clouds are a symbol of nature. Theyre a symbol of a world in balance, not a world that is tipping out of balance.

Lily Jamali:Cloud data facilities have very real environmental impacts. Can you talk about their large carbon footprint? Is there a way to quantify it globally?

Gonzalez Monserrate:The electricity consumed by data centers contributes a significant carbon footprint. For data centers specifically, its something like 0.5% of all greenhouse gas emissions globally. But if you extend that to include everything that the internet touches, including devices, all the transmitters and internet exchange centers, so everything that is the cloud, its about 2% of greenhouse gas emissions, which is roughly the equivalent of the airline industry.

Jamali:These data centers are filled with servers that are running all the time, which of course generates a lot of heat. Using air conditioning to cool things down can be very energy-intensive, so some companies are looking to water instead. Can you explain that?

Gonzalez Monserrate:Even though the data storage industry has grown significantly over the last six years, the amount of electricity they are consuming and the amount of carbon emissions they have been producing has kind of leveled out. It still has been increasing, but not with an exponential margin. One of the ways they were able to achieve that is by turning to water as a cooling agent. They pipe water through the data center, and the water collects up the heat and draws it away from computers. On average, a single data center can consume anywhere from 3 to 10 million gallons of water per day. Those numbers are not exact, and they cant be. Part of the reason is because of this atmosphere of secrecy that has been around water use in the industry. They have framed it as a trade secret and until recently, many of these tech companies, including Google, were not actually telling us how much water they used. It was privileged information. That is changing now. Google is trying to be a little bit more transparent, and some other companies are following suit. What we can say for certain is that the water issue is not going away, its only going to increase. About 20% of the data centers in the United States are located in watersheds that are vulnerable, that are either in active drought or in a severe state of water stress.

Jamali:You spent some time studying the communities surrounding data centers in places with vulnerable watersheds, like Arizona. What did you hear from people living near these facilities? Are they concerned about things like water use and carbon emissions?

Gonzalez Monserrate:It was a really interesting experience doing this ethnographic research in Arizona. There are actually a lot of people who have been organizing in their communities against the data centers. Water is an issue that is on the minds of a lot of those folks. There are also communities in, say, Valencia, New Mexico, who are organizing against the data centers because the farmers are competing with the server farms for water. The farmers are actually having a lot of issues just getting the water that they need to grow food. Meanwhile, these data centers in those communities are consuming so much water that its causing a huge strain. So yes, there were a lot of folks who were concerned about this and about the future of the valley in Arizona and how data centers fit into this, especially as more and more are being constructed. Were looking at an area thats facing a historic drought the likes of which has not been seen for hundreds, if not thousands of years, by some measures. When weve talked about climate change, we also have to remember that in addition to greenhouse gas emissions, desertification is one of the key drivers of climate change, as theUnited Nations IPCCreport outlined.

Jamali:As youve been sharing some of this, Ive been thinking about all of my photo outtakes and silly tweets from 12 or 13 years ago that are stored in the cloud, and thinking about whether we really need all that junk. I dont see how Im going to get rid of all of that, and its probably just going to stay in the cloud in perpetuity. There must be some alternatives to these huge cloud data centers, right?

Gonzalez Monserrate:Your question really gets to one of the major paradoxes of the cloud. This infrastructure and the servers have to be disposed of every two to three years. Digital information is actually not very durable, and in fact, most of the solid-state drives that we possess like our computers and our phones, those drives will start to experience information degradation within a decade. Part of the unsustainability of the cloud is not only the energy and the water, but also the stuff the materials, the metals, all this stuff that makes up the information ecologies. The cloud is an information storage system, but its also remote computational power that we outsource to computers that are far away from us to, for example, make an AI-generated image of ourselves in anime style.

Jamali:This is really important stuff, right?

Gonzalez Monserrate:Right? But then the flip side of that is storage, and I think we dont have a lot of alternatives on the horizon for doing the computational work more efficiently, but we do have a lot of alternatives on the horizon for storing information more efficiently. Some of them are molecular-based, so usingsynthetic DNA as a medium for information storage, with life itself being a proof of concept that molecules can store information. That kind of information ecology based on molecules is being explored by private industry but also by artists and engineers who are finding ways to encode informationinto living tissues, so an internet of plants, if you will. So, there are alternatives on the horizon. There are emerging technologies that we could use that would significantly reduce the energy consumption of our digital activity.

When it comes to doing the numbers on Big Techs energy use in all of those data centers, some companies are more transparent than others. Critics consider Amazon one of the cagier players.

But earlier this year, reporters atInsider shed some light on Amazons energy useafter they reviewed permits the tech giant filed to build more data centers in Virginia.

According to the Insider article, with the addition of new data centers, the power footprint for Amazons northern Virginia portfolio will amount to at least 2.7 gigawatts. Thats 35% more than the entire power grid of the companys hometown of Seattle.

That number is an estimate that Amazon disputes, according to the comment the company provided to Insider reporters. Amazon says90% of the electricity it consumedlast year was attributable to renewable sources.

For more on the energy and environmental costs of cloud data centers, check out the piece Steven Gonzalez Monserratewrote for Wiredlast fall.

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