By Julia Kollewe
Publication Date: 2026-03-24 10:40:00
British banking app Revolut said it could face a backlash over its support of energy-intensive sectors such as crypto and AI, as it reported a 57% rise in annual profit.
The fintech company, which can now launch as a fully-fledged UK bank after a five-year wait for regulatory approval, warned in its 2025 results that such activities posed a “reputational risk”.
Cryptocurrency mining, particularly Bitcoin, and AI data centers require large amounts of electricity, with competition for power growing even fiercer since the U.S.-Israel war against Iran sent energy prices soaring last month.
Revolut, which offers crypto trading, wrote in its annual report: “Changing attitudes towards energy-intensive activities, including artificial intelligence, metal mining and the carbon footprint of popular cryptocurrencies, could also impact demand for Revolut’s services and create reputational risks.”
The company also reported pre-tax profits of £1.7 billion for 2025, with…
