The Cambridge research also updated Ethereum’s environmental profile after its shift to Proof-of-Stake. It estimated annual electricity use at about 7.9 gigawatt-hours. That figure marks a drop of roughly 99.98% from Ethereum’s energy use before The Merge in 2022. The network’s transition sharply reduced its power demand.
Researchers also estimated that more than 56% of the network’s electricity now comes from sustainable sources. That share exceeds the current global average. Ethereum moved from Proof-of-Work to Proof-of-Stake in September 2022. Since then, the network has drawn more institutional attention through tokenization, stablecoins, and decentralized finance.
The Cambridge Centre for Alternative Finance periodically studies infrastructure, energy use, and decentralization. Its latest report extends that work by examining both geographic distribution and hosting concentration.
