no, the "/" was like an "or, alternative but similar" not a division sorry.

so it's really 2 related but similar metrics.

both are measures of energy.

the hashrate is an absolute number, easy to measure but harder to relate as a concrete indicator.

the percent of global energy number is impossible to measure precisely but not that hard to estimate, and gives a meaningful summary of the role Bitcoin plays in humanity's economic choices.

ie if it 5xes to 1%, miners clearly would rather spend energy on Bitcoin than on other traditional commodities like aluminum or making plushy toys in a factory.

but if it drops to one millionth of the energy budget, that"s a sign that Bitcoin is seriously weakening.