The Merge and crypto's electricity consumption
How much energy use did Ethereum's transition to proof-of-stake really reduce
TLDR;
The Merge likely decreased global electricity consumption by 0.03-0.06% rather than the 0.2% estimates circulated by members of the Ethereum Foundation.
The Cambridge Bitcoin Energy Consumption Index must be adjusted for rising global energy prices and is currently overestimating the stable electricity consumption of the network by about 15%.
This analysis has been open-sourced and is available here.
GPUs that migrated from Ethereum to other GPU-mined chains have decimated the profitability of mining those cryptoassets and will likely only mine in the short-term.
Estimated reading time: about 30 minutes.