|or better yet, try to just process a line at a time.
Indeed. Especially since even reading this much data (never mind processing it) will take considerable time. Reading one line, processing it, then reading the next would also allow you to store a counter on disk somewhere or displayed on the screen with the number of bytes successfully read and processed (obtained using tell) so that, if the process dies partway through, it can pick up from where it left off when restarted instead of having to go back to the beginning of the file and repeat what's already been done.
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