Part of the debate – in the House of Lords am 3:21 pm ar 27 Ionawr 2025.
My noble friend is right to raise this important question. I should say that the Government keep this under review. In fact, we reckon that only 0.2% of global crypto mining takes place in the UK. The International Energy Agency has estimated that, in 2022, 2% of total global energy demand came from data centres, cryptocurrencies and AI. It expects that to double by 2026. However, it makes the point that it expects that doubling to be met by an increase in clean energy sources. The lesson here for us is that we need to power on with our aim to get to clean power by 2030.