Kyle McDonald shares a “bottom-up” estimate and tracker of Ethereum emissions and energy use that considers key variables such as hashrate and hashing efficiency, hardware and data centre overhead, grid loss, and power supply efficiency. According to the artist’s analysis, the popular cryptocurrency network consumes around 23 terawatt hours per year—as much as the entire state of Massachusets. “Ethereum is effectively operating two to three coal power plants,” McDonald writes on Medium.