| Variable | Symbol | Value | Unit | Source |
|---|---|---|---|---|
| Network Hashrate | HN | 296000 | GH/s | https://etherscan.io/chart/hashrate |
| GPU Hashrate | HM | 31.2 | MH/s | https://www.legitreviews.com/geforce-gtx-1070-ethereum-mining-small-tweaks-great-hashrate-low-power_195451 |
| GPU Power | PM | 110.6 | W | https://www.reddit.com/r/ethereum/comments/7vewys/10000_tons_co2_per_day_and_climbing_eip_858/dtrswyz/ |
Network Power Consumption (PN)
A baseline value for network power consumption can be found by multiplying the total network hashrate with a "best case" value for the power/hashrate ratio that a miner can achieve.
PN = HN x PM / HM
PN = 296000 (GH/s) x 110.6 (W) x 1000 (MH/GH) / ( 31.2 (MH/s) x 10^6 (W/MW) )
PN = 1049 MW
As a side note, people often confuse power (W) and energy (power x time, eg. Wh). For instance, assuming an average daily PNd of 1049 MW we can calculate that days Energy consumption by multiplying by the number of hours in a day.
ENd = PNd x Td
ENd = 1049 (MW) x 24 (h/d) / 1000 (GW/MW)
ENd = 19.7 GWh