The energy consumption of Bitcoin mining is extremely high. The Cambridge Bitcoin Electricity Consumption Index shows that the annual electricity consumption of Bitcoin mining was approximately 175.87 TWh in January 2025. With the rise in energy prices, the cost of mining a single Bitcoin is also rising. For example, after the Bitcoin halving in 2024, the average mining cost per Bitcoin for miners is pegged at $37,856. If the price of Bitcoin does not rise sustainably, it will be difficult for miners to make a profit.