Bitcoin Mining's Power Demand Jumps 38% to 190 TWh

The annualized electricity demand of Bitcoin mining has increased by 38% in just over a year, reaching around 190 terawatt-hours (TWh) in December 2025. This growth is largely driven by the expansion of low-carbon power sources, which now account for 59.4% of the reported mix.

Hydropower has overtaken natural gas as Bitcoin mining's largest single energy source, according to preliminary research from the Cambridge Centre for Alternative Finance. The research also found that total estimated greenhouse-gas emissions increased by 20%, from about 40 million to 48 million tonnes of carbon-dioxide equivalent.

Researchers attribute part of the change in hydropower's share to stronger survey coverage in hydro-rich markets such as Ethiopia, where Bitcoin mining has expanded around low-cost electricity from the Grand Ethiopian Renaissance Dam. The study also notes that while miners are exploring AI and high-performance computing (HPC) services, only 10% of respondents have already allocated power to these activities.