Hydropower overtakes natural gas as Bitcoin mining’s top energy source

Bitcoin mining just hit a milestone that would have seemed unlikely a few years ago: hydropower has surpassed natural gas to become the single largest energy source powering the Bitcoin network, according to data from the Cambridge Centre for Alternative Finance. The shift is part of a broader trend that has seen low-carbon energy sources climb to 59.4% of Bitcoin mining’s total energy mix, up from 52.4% as previously reported by CCAF in April 2025. The numbers behind the green shift Electricity consumption for Bitcoin mining surged by an estimated 38% over the 18-month period from June 2024 to December 2025. Annual consumption now sits at approximately 190 terawatt-hours (TWh). Yet total emissions from Bitcoin mining only increased by about 20% during the same period, despite the dramatic rise in power usage. Why this matters beyond the green narrative The environmental critique of Bitcoin has been one of the most durable arguments against its mainstream adoption. Elon Musk famously suspended Tesla’s Bitcoin payment option in 2021 over energy concerns. ESG-focused institutional investors have kept the asset at arm’s length for similar reasons. Central banks and regulators have rep...