Hydropower becomes top energy source for Bitcoin mining as low-carbon share reaches 60%

Hydropower has overtaken natural gas as the largest energy source for Bitcoin mining, according to data from the Cambridge Centre for Alternative Finance. Low-carbon sources now account for 59.4% of the network's energy mix, up from 52.4% in April 2025. This shift happened even as total electricity consumption rose 38% to about 190 TWh per year, while emissions increased only 20%, suggesting cleaner generation is absorbing growth. For investors and policymakers, the trend matters. Regulatory risk around mining could ease if the industry can credibly claim near 60% clean energy. Institutional investors with ESG mandates may find it easier to allocate. Mining companies also benefit from hydropower's more stable pricing compared to natural gas, which is subject to geopolitical and seasonal swings. The data points to a real shift in how one of the largest discrete electricity loads sources its power.