Ethereum Energy Consumption Drops 99.98% Post-Merge, Cambridge Report Finds

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According to Cambridge Center for Alternative Finance's June report, Ethereum's annual energy consumption dropped to 7.87 GWh following the September 15, 2022 Merge, a reduction of 3.5 orders of magnitude from the pre-Merge demand of 2.4 GW. Emissions fell from 10.3 MtCO₂ to 2.37 ktCO₂e, a 99.98% decrease. The report estimates that legacy banking systems consume 260 TWh annually, making Ethereum's 7.87 GWh footprint roughly 33,000 times smaller, or 4.5 orders of magnitude lower.
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