Using Knuth's up-arrow notation, Graham's number $G$ is defined as $$ G=g_{64},\,\,\, \text{ where }g_1=3\uparrow\uparrow\uparrow\uparrow 3 \text{ and } g_n=3\uparrow^{g_{n-1}}3. $$ I was wondering if it's possible to know what is the power of two, $H$, that is closest to $G$.
My initial idea was to construct it in a similar way, that is, $$ H=h_{64},\,\,\, \text{ where }h_1=2\uparrow\uparrow\uparrow\uparrow 2 \text{ and } h_n=2\uparrow^{h_{n-1}}2, $$ which is a power of two. However, something tells me it should be a bigger number. For instance, is it true that $h_{65}>G$?
Unfortunately, any up-arrow of $2$'s expands as $$ 2 \uparrow^n 2 = \underbrace{2 \uparrow^{n-1} \dots \uparrow^{n-1} 2}_{\text{2 times}} = 2 \uparrow^{n-1} 2 $$ and so eventually we just get to $2 \uparrow 2 = 2^2 = 2\cdot 2 = 2 + 2 = 4$. So your definition of $h_{64}$ is not all that big: we just get $H = h_{64} = 4$.
(Graham and Rothschild's original paper starts with $h_1 = 2 \uparrow^{12} 3$ and then iterates $h_n = 2 \uparrow^{h_{n-1}} 3$, ending with $h_7$, to get the upper bound they need. Putting a $3$ at the end avoids the cancellation we see in $2 \uparrow^n 2$. But this $h_7$ is actually much smaller than $G$.)
There is not likely to be a great expression for the closest power of $2$ to $G$. The sequence $g_1, g_2, g_3, \dots$ grows so quickly that it is not too misleading to say that $G$ and $2^G$ are "basically the same" - they are very close on the scale that we're considering! We definitely have $2^{g_{63}} < G < 2^{g_{64}}$, and the second inequality is much closer than the first.