Bitcoin Energy Consumption Surges 38%, Despite Shift to Cleaner Energy Sources

The Bitcoin network's energy consumption has increased by 38% since mid-2024, according to preliminary data from the Cambridge Centre for Alternative Finance. The data also shows that the network's energy mix has shifted significantly, with water now surpassing coal as the largest single source of energy.

The data comes from a survey of around half of the global Bitcoin mining industry and covers the period from mid-2024 to December 2025. The results show that the network's annualized electricity consumption rose from approximately 138 TWh in June 2024 to over 190 TWh by December 2025.

The shift towards water power is driven by the increasing use of hydroelectric dams, particularly in countries like Ethiopia where low-cost hydropower has attracted more miners. The Grand Ethiopian Renaissance Dam has become a major hub for Bitcoin mining in recent years, contributing to the growth of water's share in the network's energy mix.

While the shift towards cleaner energy is positive, the overall carbon footprint of the network continues to rise. The Cambridge Centre estimates that the network's annualized CO2 emissions increased by around 20% over the same period, reaching approximately 48 million tons.