In fact, annual electricity consumption for bitcoin mining in the U.S. has surged by 17% year-over-year, totaling 138 terawatt-hours and representing 0.54% of global electricity use.

Sustainable energy sources now contribute to 52.4% of bitcoin mining, with 42.6% derived from renewables such as wind and hydropower, and 9.8% from nuclear energy.

The approval of bitcoin exchange-traded funds in January 2024 has further expanded access to bitcoin investments for a broader range of investors.

Currently, bitcoin's trading price fluctuates between $94,000 and $95,000, a decline from its all-time high of $106,734.51 in December 2024, amid ongoing market volatility influenced by tariff strategies from President Donald Trump.

The United States is rapidly establishing itself as the main hub for bitcoin mining, capturing 75.4% of North American activity as firms exit China.

This growth is exemplified by the emergence of major players like Riot Platforms and Marathon Digital Holdings, which have become the largest public firms in the sector.

Natural gas has emerged as the largest single energy source for bitcoin mining, accounting for 38.2%, while coal usage has dramatically decreased to 8.9% from 36.6% in 2022.

Electricity costs are a significant concern for miners, comprising 80% of their cash-based operating expenses, highlighting the importance of energy access for operational success.

According to Alexander Neumueller from the University of Cambridge, affordable energy is crucial for the competitiveness and growth of the U.S. bitcoin mining industry.

A recent report on the bitcoin mining industry, which includes data from 49 firms across 23 countries, provides comprehensive insights into the sector's dynamics.