Recent research conducted by Cambridge University reveals that sustainable energy now accounts for 52.4% of the energy used in Bitcoin mining, a notable increase from the 37.6% figure reported in 2022.
This significant finding was released on Monday as part of the Cambridge Centre for Alternative Finance (CCAF) through its Digital Mining Industry Report.
The report indicates that 42.6% of the sustainable energy utilized in Bitcoin mining is derived from renewable sources, including wind and hydropower, whereas nuclear energy contributes 9.8%.
Natural Gas Surpasses Coal as Primary Energy Source
In a shift in energy sourcing, natural gas has surpassed coal, now representing 38.2% of the energy consumption in Bitcoin mining, a rise from 25% in the previous year.
Conversely, coal’s usage has significantly declined, dropping to 8.9% from 36.6%.
The findings stem from a survey of 49 mining companies operating across 23 countries, which together represent approximately 48% of the Bitcoin network’s total hashrate.
Firms taking part in the survey included notable names such as Bitfarms, CleanSpark, Hut 8, IREN, MARA, and Riot.
The study estimates Bitcoin’s annual electricity consumption at 138 terawatt-hours (TWh), which constitutes around 0.5% of the total global energy use, while calculating carbon emissions at 39.8 megatonnes. Additionally, there has been a 24% improvement in hardware efficiency year-over-year.
Furthermore, the research indicates that miners are undertaking additional sustainable practices beyond just energy sourcing.
52.4% of the electricity powering global Bitcoin mining is from zero-emission sustainable energy sources, according to new research by Cambridge University. pic.twitter.com/Mwd0EUXh4f
— Documenting ₿itcoin (@DocumentingBTC) April 29, 2025
Approximately 86.9% of mining hardware that has been decommissioned is being resold, repurposed, or recycled, with Bitcoin mining generating about 2.3 kilotonnes of electronic waste in 2024.
Regionally, North America holds a dominant position in the Bitcoin mining industry, with the United States accounting for 75.4% of activity and Canada contributing 7.1%.
Electricity continues to be the leading cost factor for miners, consuming over 80% of their operational expenses, with the median reported power cost standing at $45 per megawatt-hour (MWh).
The report pointed out that Bitcoin miners have played a role in enhancing grid stability, curtailing 888 GWh of electrical load in 2023 to help manage peak demand periods.
Call for Further Research on Bitcoin Mining Effects
The CCAF highlighted the need for additional research into various areas including methane emissions mitigation, heat reuse, and the broader societal impacts such as employment consequences.
“By providing data from nearly half of the global mining network, we seek to ground policy discussions in transparent evidence,” stated Alexander Neumueller, Research Lead at CCAF.
This report arrives amid ongoing debates regarding the environmental effects of Bitcoin mining.
A recent study led by Harvard suggested that Bitcoin mining in the U.S. has exacerbated air pollution, although it has faced criticism from energy specialists who assert it was based on flawed methodologies and outdated information.
Following China’s 2021 crackdown on the cryptocurrency sector, the United States emerged as a leading nation in Bitcoin mining.
With access to inexpensive electricity and robust capital markets, American mining enterprises quickly established a dominant presence, especially with the pro-crypto Trump administration initially bringing optimism for industry growth.
However, recent developments cast uncertainty over this trajectory.
Key among the challenges facing the U.S. mining sector is its reliance on imported equipment from Southeast Asia, with countries such as Thailand, Malaysia, and Indonesia manufacturing most of the mining machines utilized in the U.S.
These machines are now subjected to tariffs of up to 36% under a new trade policy from the Trump administration, although the implementation has been temporarily suspended for 90 days.
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