Miners Embrace Renewables: Top 10 Companies with Highest Renewable Electricity Adoption in Operations

Mining companies are transitioning to renewable energy sources to reduce emissions and costs. Many have set near-term targets, such as Vale's goal to reach 100% renewable energy use worldwide by 2030. Miners are increasing their use of electricity generated from renewable energy through power purchase agreements (PPAs) and on-site renewable power plants. Antofagasta reported the highest percentage of renewable electricity used in its operations in 2024, at 100%, thanks to its PPA activity.

Bitcoin mining has traditionally been associated with high energy consumption and environmental concerns. However, a growing number of companies are addressing these issues by adopting renewable energy sources and transparent operations. This shift is not only driven by sustainability goals but also by the potential for cost savings and improved regulatory compliance. Here are some of the top sustainable Bitcoin mining companies to watch:

1. Gryphon Digital Mining
Gryphon Digital Mining is a carbon-negative Bitcoin miner that uses hydroelectric and flare gas power. In 2023, over 98% of its electricity came from renewable sources, reaching 100% early in 2024. The company has received sustainable Bitcoin certification and regularly publishes its emissions data. Gryphon's efficient mining fleet and strategic acquisitions, such as flare gas-powered mining assets, position it as a leader in sustainable mining [1].

2. CleanSpark
CleanSpark is a Bitcoin mining company that sources about 94% of its power from carbon-free sources like nuclear, hydro, wind, and solar. It has a strong focus on community engagement and has successfully partnered with Coinmint to operate a large hydro-powered facility in New York. CleanSpark's commitment to clean energy and immersion cooling technology makes it a standout in the industry [2].

3. TeraWulf
TeraWulf operates Bitcoin mining sites in the United States that primarily use hydro and nuclear energy. This results in about 91% zero-carbon power consumption. The company's strategic expansion plans, including the Lake Mariner facility in New York and the Nautilus Cryptomine site in Pennsylvania, demonstrate a commitment to clean energy and cost efficiency [3].

4. Iris Energy
Iris Energy, now known as IREN, operates mining sites in Canada, Texas, and Australia, using a mix of hydroelectric, wind, solar, and renewable energy certificates. This results in around 97% renewable power consumption. The company's AI-driven cloud services powered by renewable energy add to its revenue streams. Iris Energy's strong institutional interest and growth forecasts make it a notable player in the sustainable mining sector [4].

5. Bitfarms
Bitfarms operates mining facilities in Québec, Washington State, Argentina, and Paraguay, primarily using hydroelectric energy. The company has a comprehensive environmental, health, and safety management system and partners with recycling groups to create verified carbon credits. Bitfarms' strategic focus on U.S. facilities and high-performance computing positions it for future growth [5].

These companies are leading the transition to sustainable Bitcoin mining by adopting renewable energy sources and transparent operations. Their efforts not only reduce environmental impact but also offer cost savings and improved regulatory compliance. As more miners adopt these practices, the industry is poised for a greener future.

References
[1] https://carboncredits.com/top-5-sustainable-bitcoin-mining-companies-to-watch-out-for/
[2] https://www.cleanspark.com/
[3] https://www.terawulf.com/
[4] https://www.irisenergy.com/
[5] https://www.bitfarms.com/