A new University of Cambridge study found that Ethereum is one of the most energy-efficient major proof-of-stake blockchains when you compare electricity use to market value. While Ethereum uses more total electricity than some smaller networks, the study estimates its yearly energy use at just 33 kilowatt-hours per $1 million in market value, the second lowest among those studied. These results offer new data on Ethereum’s environmental impact almost four years after it stopped using energy-heavy mining.
Cambridge Centre for Alternative Finance researchers estimate Ethereum uses about 7.87 gigawatt-hours of electricity each year. Solana, by comparison, had the highest annual use at around 13.48 gigawatt-hours, and its energy intensity was about 8.5 times higher than Ethereum’s.
The report offers one of the most comprehensive assessments of Ethereum’s energy use since the network completed The Merge in September 2022. That upgrade replaced proof-of-work mining with proof-of-stake validation, reducing Ethereum’s overall energy consumption by an estimated 99.96%.
Source: jbs.cam.ac.uk
Ethereum now relies on validators who stake Ether to secure the network, instead of energy-hungry mining hardware. Cambridge researchers looked at power use across different Ethereum software setups and found an average of about 105 watts per node. The study counted around 8,500 public full nodes, with most running in cloud or business data centres and the rest on home internet connections.
The researchers also examined the electricity sources powering Ethereum’s network. They estimated that approximately 56.4% of the electricity used by Ethereum nodes comes from renewable and nuclear energy, while the remaining 43.6% is supplied by fossil fuels.
These findings give policymakers, investors, and sustainability researchers new benchmarks for comparing blockchains. As environmental issues influence digital asset adoption, the report supports Ethereum’s reputation as one of the most energy-efficient large blockchains today.
Cambridge research confirms Ethereum’s post-Merge energy use dropped over 99.9% to 7.87 GWh per year, yet the heavy concentration of nodes at a handful of. https://t.co/DXEe0uG8na
— Blockchain Reporter (@blockchainrptr) July 11, 2026
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