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| Variable | Symbol | Value | Unit | Source |
| -------------------|--------------|---------------|---------------|--------|
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| Network Hashrate |H< sub > N< / sub > | 296000 | GH/s | https://etherscan.io/chart/hashrate |
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| GPU Hashrate |H< sub > M< / sub > | 31.2 | MH/s | https://www.legitreviews.com/geforce-gtx-1070-ethereum-mining-small-tweaks-great-hashrate-low-power_195451 |
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| GPU Power |P< sub > M< / sub > | 110.6 | W | https://www.reddit.com/r/ethereum/comments/7vewys/10000_tons_co2_per_day_and_climbing_eip_858/dtrswyz/ |
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## Network Power Consumption (P<sub>N</sub>)
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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.
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> P<sub>N</sub> = H<sub>N</sub> x P<sub>M</sub> / H<sub>M</sub>
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>
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> P<sub>N</sub> = 296000 (GH/s) x 110.6 (W) x 1000 (MH/GH) / ( 31.2 (MH/s) x 10^6 (W/MW) )
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>
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> P<sub>N</sub> = 1049 MW
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As a side note, people often confuse power (W) and energy (power x time, eg. Wh). For instance, assuming an average daily P< sub > Nd< / sub > of 1049 MW we can calculate that days Energy consumption by multiplying by the number of hours in a day.
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> E<sub>Nd</sub> = P<sub>Nd</sub> x T<sub>d</sub>
>
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> E<sub>Nd</sub> = 1049 (MW) x 24 (h/d) / 1000 (GW/MW)
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>
> E<sub>Nd</sub> = 19.7 GWh
