10.65 gigawatts was the lowest power consumption the Bitcoin network saw in 2022. (GW). The BTC network used 16.09 GW of electricity at its peak.

Following a two-week decline in the mining hash rate, which reduced the required computing power for mining BTC blocks to 199.225 exahashes per second (EH/s), the overall energy usage of the Bitcoin (BTC) network saw a sharp decline.

The Cambridge Centre for Alternative Finance’s statistics indicates that 2022’s lowest power usage for the Bitcoin network was 10.65 gigawatts (GW). Conversely, the BTC network used 16.09 GW of electricity at its peak.

Bitcoin network power demand from 2018-2022. Source: ccaf.io

The declining hash rate is to blame for the abrupt drop in Bitcoin’s power consumption. This is because the amount of processing power BTC miners need to mine a block effectively is measured by the mining hash rate, which is a crucial security statistic.

On June 13, Bitcoin’s mining difficulty hit an all-time high of 231.428 EH/s. After that, the difficulty decreased by more than -13.9 percent over two weeks. F2Pool and AntPool are the largest known miners, having mined 81 and 80 blocks over the past four days, respectively, according to the most recent breakdown of the hash rate distribution.

Using federal funds, a team of researchers created the Electricity Stablecoin (E-Stablecoin), a class of stablecoin that would transport energy as a form of information.

One kilowatt-hour of electricity plus a fee would be required to create the E-Stablecoin, which could then be used for transactions like any other stablecoin.

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