US Power Demand to Hit Record High as AI, Crypto Mining Drive Growth, EIA Says

US electricity demand is projected to reach record highs in the coming years, driven by the expansion of artificial intelligence data centers and cryptocurrency mining.

The US Energy Information Administration expects US power demand to climb to all-time highs in 2026 and 2027, Walter Bloomberg reported on July 7.

The EIA said AI data centers, cryptocurrency mining and broader electrification will drive the increase in electricity consumption. It also projects commercial power use will surpass residential consumption for the first time.

The agency added that renewable energy will continue to make up a larger share of power generation, while coal's share will decline.