Bitcoin Energy Consumption Index
It’s not possible to pinpoint the exact energy consumption of the bitcoin network, but we created the Hashrate Index Bitcoin Mining Energy Consumption Index to provide what we find is a closer estimate then the ones that are currently available.
We have used Hashrate Index’s ASIC Index data, Coinmetrics Nonce S9/S7 data, and Galaxy Digitals 2022 ASIC data analysis to estimate overall energy consumption for the Bitcoin network from 2017 to present.
We set an upper bound estimate (which consists of solely low efficiency ASICs, like the S9) to set the power consumption ceiling. A hypothetical lower bound power consumption estimate (which consists solely of high efficiency ASIC) shows the Bitcoin network’s energy appetite assuming it uses only the newest hardware. To meet in the middle between these two estimates, we have constructed a best estimate to calculate a close approximation of Bitcoin’s actual energy consumption.