More Than Half of Bitcoin Mining Now Powered by Clean Energy

Bitcoin mining is increasingly powered by clean energy, with a new study showing that more than half of the network now runs on sustainable sources.

A new study has found that more than half of Bitcoin mining will be powered by renewable energy by the first quarter of 2025.

The research, published by the Cambridge Centre for Alternative Finance (CCAF), found that 52.4% of Bitcoin mining will be powered by sustainable energy.

Of that, 42.6% will come from renewable sources such as hydro and wind, while 9.8% will come from nuclear power. This marks a significant increase from 2022, when renewable energy accounted for 37.6% of Bitcoin mining.

The U.S. is leading the way in the shift to sustainable Bitcoin mining. Together with Canada, North America accounts for over 80% of sustainable Bitcoin mining, the study found.

These findings follow earlier claims by groups like the Bitcoin Mining Council, which estimated that renewable energy powered around 60% of Bitcoin mining. However, those figures weren't independently confirmed on this scale.

Elon Musk previously said he’d reconsider accepting Bitcoin at Tesla if at least 50% of the network ran on renewable energy.

This followed Tesla briefly accepting Bitcoin in early 2021, only to cancel the option a few months later and cite environmental concerns as the main reason.

After U.S. politicians and crypto enthusiasts urged him to reconsider due to Bitcoin’s increasing renewable energy mix, Musk said in October 2021 that he’d personally be open to accepting Bitcoin again.

However, despite reports suggesting the threshold had been met over the years, Tesla never re-enabled Bitcoin payments, though it quietly accepted Dogecoin for merchandise.

However, despite reports suggesting the threshold had been met over the years, Tesla never re-enabled Bitcoin payments, though it quietly accepted Dogecoin for merchandise.

Meanwhile, both Tesla and SpaceX continued to hold Bitcoin on their balance sheets.

It remains to be seen whether the new Cambridge data will influence Musk’s stance.

Musk’s crypto decisions have often seemed more symbolic than strategic. But the timing of any potential U-turn would be interesting.

Pro-Bitcoin rhetoric is growing in the U.S., where President Donald Trump has now pitched the idea of a national Bitcoin reserve. And with major corporations cutting back on crypto projects amid the bear market, the topic of adoption may resurface.