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The Bitcoin network has a fixed transaction capacity that has no relation to the amount of power expended to mine bitcoin.

The amount of power used is proportional to the value of the reward for successfully mining a new block, which happens about every 10 minutes (12.5 BTC or about $100k).

If the value of BTC goes up miners will increase their spend and more power will be consumed per block mined, and if the value goes down so to will the power used.

Regardless of the power used for mining, there is a fixed transaction capacity in the network.



Power used can also be a function of energy costs. It costs go down by half, miners will be incentivized to increase mining capacity (else their competition will) and as a result presumably energy consumption will double.




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