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INSIGHT: Ethereum's energy use has fallen more than 99.9% since the Merge, according to a new Cambridge study.

A Cambridge University study found that Ethereum's energy use has fallen by more than 99.9% since the network's transition to proof‑of‑stake in the Merge, dramatically cutting its electricity consumption.

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What happened

A Cambridge University study found that Ethereum’s energy use has fallen by more than 99.9% since the network’s transition to proof‑of‑stake in the Merge, dramatically cutting its electricity consumption.

Confirmed

Global impact / market context

The drastic drop in energy demand reduces Ethereum’s environmental footprint, easing regulatory pressure and making the blockchain more attractive to environmentally‑conscious investors and companies that consider sustainability when allocating capital.

Analyst inference

Crypto assets have faced criticism for high power use, especially proof‑of‑work chains like Bitcoin. Ethereum’s shift to proof‑of‑stake, now shown to cut energy use dramatically, signals a broader industry move toward greener consensus mechanisms.

Analyst inference

What to watch

  1. Institutional fund allocations to Ethereum may rise if sustainability criteria become a larger factor in portfolio decisions, potentially boosting demand for ETH. Analyst inference
  2. Regulators could ease scrutiny or create incentives for proof‑of‑stake networks, encouraging other blockchains to adopt similar low‑energy designs. Analyst inference
  3. Developers may prioritize building on Ethereum, expecting lower operational costs for decentralized applications that no longer need costly energy‑intensive mining. Analyst inference

Affected assets

  • ETH — Ethereum

Evidence