Bitcoin mining's annualized power consumption surged 38% to 190 TWh in December 2025, driven by network expansion that outpaced hardware efficiency gains. However, associated emissions rose by a slower 20% to 48 million metric tons of CO2 equivalent as the industry's low-carbon energy share reached 59.4%, with hydropower overtaking natural gas as the primary power source. While miners expand in hydro-rich regions like Paraguay and Ethiopia, or test waste-methane pilots in Utah, a parallel shift is underway as firms increasingly explore redirecting their scarce power capacity toward AI infrastructure.
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