No. How the space on the block chain is used doesn't really factor into that. The ceiling for the power usage of bitcoin can be estimated by taking the value o

No. How the space on the block chain is used doesn't really factor into that. The ceiling for the power usage of bitcoin can be estimated by taking the value of the bitcoin that is mined in total each hour (say 6 blocks/hour * 6.25 BTC * 60K $/BTC = 2.25M dollars/hour) and dividing it by the cost of electricity (e.g. (2.25M $/hour) / 0.05 $/kWh = 45 gigawatt). As long as miners are using less electricity than that, they can make more profit by expanding their operations. (It's a bit more complicated because of capital costs and operational costs other than electricity etc. but I think it's a good rough estimate to start with.)