Cambridge Updates Bitcoin Mining Index to Reveal True Power Consumption - Decrypt

The University of Cambridge has updated its Bitcoin Electricity Consumption Index (CBECI), revealing that previous estimates of Bitcoin's energy consumption were greatly overestimated, with the revised model estimating a lower electricity consumption of 89 terawatt-hours (TWh) in 2021 compared to the previous estimate of 104 TWh, and a downward adjustment of 9.8 TWh in the 2022 power estimate.