Cambridge: Hydropower Overtakes Natural Gas as Bitcoin Mining’s Largest Energy Source Preliminary data from the Cambridge Centre for Alternative Finance shows Bitcoin mining’s annualized electricity consumption rose 38% from 138 TWh in June 2024 to about 190 TWh in December 2025. Estimated greenhouse-gas emissions increased 20% to roughly 48 million tonnes of CO₂ equivalent, while low-carbon energy’s share of the mining power mix climbed from 52.4% to 59.4%. Hydropower overtook natural gas to become the industry’s largest single energy source.
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