A recent report from Cambridge Centre for Alternative Finance (CCAF) reveals a significant shift in Bitcoin mining energy sources, with sustainable power now driving over half of the network. The study highlights a surge in renewable energy use, such as wind and hydro, accounting for 42.6% of the total. Nuclear power also plays a key role, contributing 9.8%. The report shows a marked decrease in fossil fuel reliance. Natural gas has taken the lead, surpassing coal as the primary energy source for mining, increasing to 38.2% from 25% in 2022, while coal usage has significantly declined to just 8.9%, down from 36.6%. The study, involving 49 mining firms across 23 countries (representing nearly 48% of global Bitcoin mining), included companies such as Bitfarms, CleanSpark, Hut 8, IREN, MARA, and Riot. The report provides valuable insights into the environmental impact of Bitcoin mining: annual electricity consumption is estimated at 138 TWh, equivalent to 0.5% of global usage. Annual emissions are 39.8 megatonnes of CO₂ equivalent. E-waste generation in 2024 is expected to be around 2.3 kilotonnes, while the hardware recycling rate stands at a commendable 86.9%. The report also notes a 24% improvement in mining hardware efficiency, suggesting technological advancements are helping mitigate some of the network’s environmental impact. This shift towards cleaner energy sources and more efficient operations could lead to changes in public perception and regulatory frameworks regarding Bitcoin’s sustainability.