Catenaa, Saturday, May 10, 2025-A Cambridge University study released Monday found that 52.4% of the Bitcoin mining industry’s energy usage now comes from sustainable sources — exceeding the 50% threshold set by Tesla CEO Elon Musk for resuming Bitcoin payments.
The report, issued by the Cambridge Centre for Alternative Finance, marks a significant improvement from 37.6% in 2022.
It attributes 42.6% of sustainable usage to renewables such as wind and hydropower, and 9.8% to nuclear energy.
Natural gas has overtaken coal as the industry’s largest energy source, rising to 38.2%, while coal usage fell sharply to 8.9% from 36.6% in 2022.
The findings come from a survey of 49 mining firms, representing 48% of the global Bitcoin hashrate.
Despite Bitcoin mining consuming 138 terawatt-hours annually — about 0.5% of global electricity use — the report noted a 24% year-over-year gain in hardware efficiency and highlighted that 86.9% of decommissioned mining gear is reused or recycled. The study also estimated that Bitcoin mining produced 2.3 kilotonnes of e-waste in 2024.
Cambridge researchers emphasized the importance of grounding policy debates in robust data, especially amid conflicting studies. A recent Harvard-led paper claimed Bitcoin mining generates significant air pollution, but critics dismissed its methodology as flawed.
Although Tesla has yet to reinstate Bitcoin payments, the new data aligns with Musk’s previously stated environmental criteria.
Tesla holds 11,509 BTC, valued at over \$1.1 billion, and maintains that it may resume crypto transactions when mining demonstrates sufficient use of clean energy.
