According to Foresight News, a digital mining industry report from the University of Cambridge indicates that the proportion of sustainable energy used in Bitcoin mining has increased to 52.4%, including 9.8% nuclear energy and 42.6% renewable energy such as hydroelectric and wind power, compared to an estimated overall sustainable energy usage of 37.6% in 2022. The report also found that natural gas accounts for 38.2% (up from 25.0% in 2022), replacing coal (now at 8.9%, down from 36.6% in 2022) as the largest single energy source for Bitcoin mining.
Based on the report data (covering 48% of global mining activities), the study estimates Bitcoin's annual electricity consumption at 138 TWh (terawatt-hours), approximately 0.5% of global electricity consumption, with corresponding network emissions of 39.8 MtCO2e (million tons of carbon dioxide equivalent). The United States accounts for 75.4% of Bitcoin mining, followed by Canada at 7.1%.
