Cambridge University Research: Bitcoin Mining Shifting Towards Sustainable Energy

The latest research report from the Cambridge Centre for Alternative Finance (CCAF) shows that the sustainable energy usage rate in the Bitcoin mining industry has risen to 52.4%, a significant increase from 37.6% in 2022. The report notes that natural gas (38.2%) has replaced coal (8.9%) as the largest single energy source, with coal usage dropping significantly from 36.6% in 2022. The data also indicates that North America dominates global mining activities, with the United States accounting for 75.4% and Canada for 7.1%. This study is based on a survey of 49 mining companies across 23 countries, covering 48% of global mining activities. It estimates Bitcoin's annual electricity consumption at 138 terawatt-hours, which is approximately 0.5% of the world's electricity usage.