When you’re running AI, electricity costs are basically nothing.

Ethereum co-founder Vitalik posted two cost breakdowns today. By his estimate, the total annual cost of running one GPU for AI inference is about $26,000. Buying the GPU, cooling and power equipment, and financing account for 76%, while electricity costs only about $1,260—less than 5%.

Bitcoin mining is the exact opposite: the total cost per coin is about $94,000, with electricity accounting for nearly half.