Bitcoin Mining Shifts Towards Low-Carbon Energy

The energy mix in Bitcoin mining has shifted significantly over the past year and a half, according to a recent survey. As of December 2025, low-carbon sources accounted for 59.4% of the energy mix, surpassing natural gas for the first time as the largest single source.

This change is attributed to the expanded survey coverage in countries with developed hydropower, particularly Ethiopia. The inauguration of the 5,150 MW 'Hidase' dam on the Blue Nile in September 2025 has provided cheap hydropower that has attracted Bitcoin miners.

According to the data presented by Alexander Neuemüller, a researcher at the Cambridge Centre for Alternative Finance (CCAF), the number of respondents increased compared to the first edition. However, it's essential to note that the 59.4% figure reflects the energy mix of the sample, not the entire industry.

While emissions grew almost twice as slowly as consumption, the increase in low-carbon sources did not offset the rise in consumption, and the industry's absolute emissions still increased.