Bitcoin Mining Goes Greener: Sustainable Energy Now Powers Over Half the Network

The findings, published in the Cambridge Digital Mining Industry Report by the Cambridge Centre for Alternative Finance (CCAF), highlight the growing role of renewables and nuclear power in crypto’s energy consumption mix.

According to the report:

42.6% of sustainable energy in Bitcoin mining comes from renewables such as wind and hydro. 9.8% is sourced from nuclear power.

The study also reveals a key transformation in fossil fuel usage. Natural gas has overtaken coal as the largest single energy source for Bitcoin mining. Natural gas usage has surged to 38.2%, up from 25% in 2022, while coal has plummeted to 8.9%, down from 36.6%.

The CCAF survey, which involved 49 mining firms (41% of them publicly listed) operating in 23 countries, represents nearly 48% of global Bitcoin mining by hashrate. Key participants included companies like Bitfarms, CleanSpark, Hut 8, IREN, MARA, and Riot.

Environmental Impact and Energy Use

The report estimates:

Bitcoin’s annual electricity consumption: 138 TWh (~0.5% of global usage) Annual carbon emissions: 39.8 megatonnes of CO₂ equivalent E-waste generation in 2024: Approximately 2.3 kilotonnes Hardware recycling rate: 86.9% of decommissioned equipment is resold, repurposed, or recycled

The study also noted a 24% year-over-year improvement in mining hardware efficiency, suggesting technological progress is helping mitigate some of the network’s environmental footprint.

As environmental scrutiny of Bitcoin mining continues, this new data could reshape public and regulatory narratives. The shift toward cleaner energy and more efficient operations indicates that the crypto industry may be moving in a more sustainable direction.

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