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Bitcoin mining pushes sustainability agenda with over 50% of energy generated from renewables

Bitcoin mining difficulty hits record high of 92.67 trillion amid falling miner revenues


Sustainable energy accounts for more than half of Bitcoin (BTC) mining consumption as of the first quarter, according to the Cambridge Centre for Alternative Finance’s Digital Mining Industry Report. 

Despite higher energy consumption, the industry’s reliance on sustainable energy increased, and operational metrics indicated a push toward long-term resilience through diversification and innovation.

Estimated annual electricity consumption for Bitcoin mining rose to 138 terawatt-hours (TWh), marking a 17% year-over-year increase. Greenhouse gas emissions associated with mining reached 39.8 Million Tons of CO₂e, accounting for 0.08% of global emissions. 

While natural gas remained the largest single energy source at 38.2%, sustainable energy sources such as hydropower and wind combined accounted for 52.4% of the total electricity mix.

North American dominance

The US continued to dominate the global mining landscape, with 75.4% of the reported Bitcoin hash rate originating from the country, while Canada followed with 7.1%.

Emerging mining activity was identified in South America and the Middle East, although North America’s position remains dominant.

The mining hardware market exhibited high concentration levels, with Bitmain holding an 82% market share and the top three manufacturers, Bitmain, MicroBT, and Canaan, collectively controlling over 99% of the market. 

Industry-wide ASIC efficiency improved to 28.2 joules per terahash, reflecting a 24% increase in efficiency compared to the previous year.

Electronic waste (e-waste) remained relatively contained, with 86.9% of decommissioned mining hardware expected to be repurposed or recycled. Estimates pointed to an actual e-waste production of approximately 2.3 kilotonnes for the period assessed.

Miner economics under strain

Electricity accounted for over 80% of miners’ operational expenses, with a median electricity cost of $45 per megawatt-hour and total all-inclusive operating costs averaging $55.50 per megawatt-hour. 

Despite compressing profit margins due to halving impacts, the sector maintained profitability through efficiency gains and power management strategies.

Surveyed miners identified energy price volatility and regulatory uncertainty as their primary concerns. To mitigate these risks, they employed business diversification, geographical expansion, and power hedging strategies. 

The report cited limited deployment capacity and hardware supply chain bottlenecks as the main barriers to…

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