Due to the cost and difficulty to precisely measure aerodynamic quantities in onshore and offshore wind farms, researchers often rely on high-fidelity large eddy simulation, based on Navier-Stokes flow solvers. However, the cost of such simulation is very high and does not allow, in practice, extensive parametric studies for large wind farms. Among others, the lattice Boltzmann method is a good candidate for much faster, ExaScale wind farm flow simulations. The present paper aims to assess the validity of a lattice Boltzmann-based actuator line model and highlights its strengths and potential weaknesses. With this intent, comparisons against a Navier-Stokes approach commonly used in the wind energy community are performed. We assess the potential of the lattice Boltzmann method to reduce the computational cost of such simulations by analyzing the performance of the different solvers and their scalability. The lattice Boltzmann-based waLBerla solver reduces the computational costs significantly compared to SOWFA while maintaining the same accuracy as the Navier-Stokes-based method. Furthermore, we show that a multi-GPU implementation leads to an even more drastic reduction of the computational time, achieving faster-than-real-time simulations. This performance will allow extensive parametric studies over large wind farms in future studies.