Hydro Powers Bitcoin Mining as Energy Mix Shifts

According to recent data from Cambridge, hydroelectric power has surpassed other energy sources as the primary fuel for Bitcoin mining. This shift was highlighted by Daniel Batten in a recent report.

In contrast to other sectors, where coal remains a dominant energy source, hydro power now leads the mix of energy used for Bitcoin mining.

Batten's analysis comes at a time when the energy consumption of various sectors is being scrutinized. In the past, he has noted that Bitcoin mining helped stabilize the Texas grid during Winter Storm Uri, preventing a 4% increase in power bills.