According to Cambridge University’s Centre for Alternative Finance (CCAF), the Ethereum network’s energy consumption came in at a total of 58.26 Terawatt hours (TWh) between 2015 and the date of the Merge – the network’s transition from Proof-of-Work to the Proof-of-Stake consensus mechanism – in September 2022.

By comparison, the country of Switzerland’s annual electricity consumption for the same period was 54.88 TWh.

Bitcoin’s energy consumption during the period was 143.9 TWh, according to the CCAF.