If it's real figure that is pretty bonkers indeed, but if a large proportion of the world's money and information wound up stored on the Bitcoin chain then it starts to look like a pretty good deal.
At present it's nowhere near that and that amount of profligacy is not good however you want to look at it. But it's possible it'll drive renewable developments and fill existing renewable surpluses such as the hydro plants in China that have a massive excess of unused power that miners have been using.
Considering how quickly the hash rate is rising I wonder how much more headroom is left before it becomes truly obnoxious.
Indeed, it may not be the perfect value that is being shown here as we dont know how many miners are actually working on this and how many of them are shutter down themselves long back ago. Even if it is 2% or 5% then also I believe it is safest window for the energy consumption because for any multi national company that would be the same case. Now we cant go out there and close all of them or put them on the renewable source of energy. So why not consider the bitcoin as the same MNC corporation which is unlike others that exists here around. Im pretty sure that you will have some correlation between the two now and it doesnt matter yet and yes developments in the renewable would be the last option to continue things around.