Abstract
Black holes with asymptotic anisotropic scaling are conjectured to be gravity duals of condensed matter system close to quantum critical points with non-trivial dynamical exponent z at finite temperature. A holographic renormalization procedure is presented that allows thermodynamic potentials to be defined for objects with both electric and magnetic charge in such a way that standard thermodynamic relations hold. Black holes in asymptotic Lifshitz spacetimes can exhibit paramagnetic behavior at low temperature limit for certain values of the critical exponent z, whereas the behavior of AdS black holes is always diamagnetic.
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