Bitcoin's Energy Consumption Drops By A Quarter Following Crypto Crash

[Magepai]

If previous downturns are any indication, the energy consumption of the Bitcoin network could fall further still.The Bitcoin network's power consumption has fallen to 11 GW as of yesterday, down 27% from 15 GW in April, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI).

The index, which estimates the amount of power used by Bitcoin miners, is maintained by the Cambridge Centre for Alternative Finance (CCAF). The CCAF estimates prices by determining a hypothetical maximum and minimum demand for a given day and produces a guess at actual consumption.more