Ethereum is using almost as much electricity as Ecuador, according to a new analysis, and a long-awaited upgrade to slash its energy use has been delayed once again
Technology
15 December 2021
A coal-fired power plant in Germany Hans Blossey/Alamy
A long-awaited upgrade to the Ethereum cryptocurrency network which could slash its energy consumption by 99 per cent has been delayed once more, as a new report reveals that it is using 23 terawatt hours of electricity annually – only slightly less than Ecuador, a country of 18 million people.
Kyle McDonald, an artist who incorporates technology into his work, has now published perhaps the most in-depth research on the energy use of the network.
The cryptocurrency has consumed a total of 39 terawatt hours since …