The CPU making it’s “decisions” is based on the *flow* of electricity through it, not the consumption of it. Like a water wheel, it doesn’t actually consume water as it does it’s job.
That said, so much power flowing in a small area is going to heat up the chip in a way you can kind of think of like friction. That energy is lost. Therefore, of the energy that is lost in a computer chip, it is mostly through heat.
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