Yes, Mining Uses a Lot of Electricity
There is no point pretending otherwise. Proof-of-Work mining consumes enough electricity every year to power a mid-sized country. That footprint is the single most common criticism of Bitcoin, and it is a fair one.
But the Mix Is Changing
What is often left out of the conversation is how the energy mix behind Bitcoin mining has shifted. In 2021, renewable and nuclear sources supplied roughly 39% of the network. By 2026 that figure is north of 60% and climbing, driven by two forces:
- Stranded renewables. Hydroelectric plants often produce more power than their local grid can absorb. Miners are uniquely able to soak up that surplus because their machines can be turned on and off in seconds.
- Flared gas capture. Oil fields routinely burn off excess natural gas because it is uneconomical to transport. Mobile mining units can capture that gas, turn it into electricity on-site, and reduce the net emissions of the oil operation.
What CryptoMine Is Doing
Our three data centres are sited next to a hydroelectric plant in Quebec, a geothermal facility in Iceland, and a solar farm in Nevada. Across our fleet, over 78% of the electricity we consume comes from renewable sources. We offset the remainder through verified carbon credits.
Energy is not just an expense for us — it is the lever that decides whether we run a profitable, sustainable business. We have every economic incentive to keep cleaning up the mix.
What You Can Do
If the environmental impact matters to you, ask cloud mining providers directly: where is your power coming from, and what percentage is renewable? If they cannot give you a straight answer, that is a red flag.