𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗠𝗶𝗻𝗶𝗻𝗴 𝗶𝗻 2025: 138 𝗧𝗪𝗵, 48% 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 𝗦𝗵𝗮𝗿𝗲, 39.8 𝗠𝘁𝗖𝗢₂𝗲. 𝗪𝗵𝗮𝘁 𝘁𝗵𝗲 𝗹𝗮𝘁𝗲𝘀𝘁 𝗖𝗮𝗺𝗯𝗿𝗶𝗱𝗴𝗲 𝗿𝗲𝗽𝗼𝗿𝘁 𝗿𝗲𝘃𝗲𝗮𝗹𝘀.
What does it take to secure the Bitcoin network today?
The latest Cambridge Digital Mining Industry Report brings hard numbers to a heated debate on energy, emissions, and economics.
With data from 49 firms covering 48% of Bitcoin’s total computing power, this is the most detailed view into digital mining ever published.
The Cambridge Centre for Alternative Finance (CCAF) has released its Digital Mining Industry Report (April 2025), offering a data-driven look at the Bitcoin mining sector.
Drawing on surveys from firms representing nearly half the network’s hashrate, the report breaks new ground in measuring electricity usage, environmental impact, and business strategy.
𝗞𝗲𝘆 𝗟𝗲𝘀𝘀𝗼𝗻𝘀:
1. Bitcoin mining consumes 138 TWh annually, 0.54% of global electricity emitting ~39.8 MtCO₂e or 0.08% of global GHG.
2. Natural gas (38.2%) is the top energy source, but 52.4% of electricity is from sustainable sources.
3. Hardware efficiency improved 24% YoY, with 86.9% of retired machines recycled or reused.
4. Top 3 ASIC manufacturers hold 99% of the market, highlighting centralisation risks.
5. Miners hedge risk via energy price strategies (60%), business (64%), and location diversification (55%).
6. Their 2024 price and hashrate projections proved notably accurate.
𝗔𝗰𝘁𝗶𝗼𝗻𝗮𝗯𝗹𝗲 𝗦𝘁𝗲𝗽𝘀:
1. Regulators can use these findings to shape clearer energy and emissions policy.
2. Investors should assess miners’ diversification and energy mix.
3. Operators must keep innovating in sustainability, hardware, and risk strategy.
𝗖𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻:
This report shifts the conversation from theory to data.
As Bitcoin grows more institutional and energy-aware, it becomes essential reading for policymakers, investors, and technologists.
Principal Researcher: Alexander Neumueller
Research Team:
Gina Pieters, PhD
,
Kamiar Mohaddes
,
Valentin Rousseau
,
Bryan Zhang
Acknowledged Contributors:
Olzhas Amirov
, Jay Beddict,
David Carlin
,
Elliot David אליוט דוד 邓宏远
,
Brian Estes
, Philip Hendricks, Taras Kulyk,
Haitian Lu
,
Parker Merritt
,
Matt Prusak
,
Horst Treiblmaier
, Javad Vasheghani, Peter Wall, Wolfie Z.
CCAF Support & Technical Team: Alexi Anania ,
Alexander Apostolides
,
Felipe Ferri Paes
,
Yue Wu
,
Keith Bear
,
Anton Dek
,
Hugo Coelho
,
Christopher Jack
,
Philippa Martinelli
,
Roman P.
,
ashiqur rahman
,
Jill Lagos Shemin
,
Hunter Sims
, Charles Goldsmith,
Philippa Farrant
Questions to reflect on
Should miners report emissions like traditional industries?
Can Bitcoin mining drive renewable energy development?
What models will emerge post-block reward era?
Jean Diederich
Niamkey Kouamé
Tobias Seidl
Petra Krizan
Ignacio Aguirre Franco
Martin Kelsen
Naim Bulliqi
Nikitas Kaklamanis
Marcel Groppo
Sarah Blommaert-Kassem
David Lotaut
Xavier Buck
Cambridge Digital Mining Industry Report | Antony Martini | 11 comments
Antony Martini
Verified Source
2026-02-17
2 min read
Source
**Key Insight:** The Cambridge Digital Mining Industry Report paints a detailed picture of Bitcoin mining's energy consumption, environmental impact, and economic strategies. It highlights the importance of regulatory policies and market dynamics in shaping the future of digital mining.
GasGx Editorial Insight
**Key Insight:** The Cambridge Digital Mining Industry Report paints a detailed picture of Bitcoin mining's energy consumption, environmental impact, and economic strategies. It highlights the importance of regulatory policies and market dynamics in shaping the future of digital mining.
**Body Paragraph 1: Analysis of the market/tech situation**
The report provides valuable insights into the current state of digital mining, particularly focusing on Bitcoin's energy usage and environmental footprint. It underscores the need for regulators to consider these factors when developing policies and regulations. Additionally, it suggests that investors should evaluate miners' diversification and energy mix to make informed decisions.
**Body Paragraph 2: The specific operational implication**
For gas plant operators, this report highlights the potential for increased compliance costs due to regulatory tightening in Alberta. However, it also points out that there are opportunities for cost savings through data-driven optimizations and smart monitoring systems.
**GasGx Take:** Our GasGx platform offers a suite of tools designed to help gas plant operators optimize their operations while complying with increasingly stringent regulations. By leveraging our LCOE Calculator, we can accurately forecast the cost of electricity generation, helping operators make informed decisions about investment and maintenance. Additionally, our Smart Monitoring System can alert operators to potential issues before they become major problems, reducing downtime and improving overall efficiency.
**Recommended SEO Tags:** "Alberta TIER compliance", "3MW Gas Generator ROI", "Energy Efficiency", "Levelized Cost of Energy"
**Body Paragraph 1: Analysis of the market/tech situation**
The report provides valuable insights into the current state of digital mining, particularly focusing on Bitcoin's energy usage and environmental footprint. It underscores the need for regulators to consider these factors when developing policies and regulations. Additionally, it suggests that investors should evaluate miners' diversification and energy mix to make informed decisions.
**Body Paragraph 2: The specific operational implication**
For gas plant operators, this report highlights the potential for increased compliance costs due to regulatory tightening in Alberta. However, it also points out that there are opportunities for cost savings through data-driven optimizations and smart monitoring systems.
**GasGx Take:** Our GasGx platform offers a suite of tools designed to help gas plant operators optimize their operations while complying with increasingly stringent regulations. By leveraging our LCOE Calculator, we can accurately forecast the cost of electricity generation, helping operators make informed decisions about investment and maintenance. Additionally, our Smart Monitoring System can alert operators to potential issues before they become major problems, reducing downtime and improving overall efficiency.
**Recommended SEO Tags:** "Alberta TIER compliance", "3MW Gas Generator ROI", "Energy Efficiency", "Levelized Cost of Energy"
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