Revolut warns it risks backlash over support for energy-intensive AI and crypto

Fintech company’s profits leap to £1.7bn as it gears up for US push after getting UK banking licence this month The UK banking app Revolut has said it could face a backlash over its support for energy-intensive sectors such as crypto and AI, as it posted a 57% increase in profits for last year. The fintech, which can now launch as a fully fledged UK bank after a five-year wait for regulatory approval, warned in its 2025 annual report that such activities posed a “reputational risk”. Revolut offers crypto trading. Cryptocurrency mining, particularly for bitcoin, and AI datacentres demand large amounts of power, with competition for electricity supplies only getting steeper since the US-Israel war on Iran sent energy prices soaring over the past month. The company also reported a £1.7bn pre-tax profit for 2025, with revenues climbing 46% to £4.5bn. It added 16 million individual customers, taking the total to 68.3 million, including 13 million in the UK, while business customers also grew by a third, to 767,000. It hopes to reach 100 million customers around the world by the middle of next year. Revolut applied for a banking licence in the US this month and said it now operated as a