A Microsoft file hosting and synchronization service.
As other users already mentioned, this issue is still occurring on macOS Big Sur.
I've tested 3 different accounts and behaviour is exactly the same: OneDrive runs normally at launch but, as soon as a file is modified and all files are in sync, exactly 60 seconds later, CPU rises from 0% to 100%. The only way to make it drop to 0% again is to change/sync a new file; however, 60 seconds later, CPU rises again to 100% and stays like that endlessly.
Looks like there is a looping process after those 60 seconds, awaiting for file changes, consuming all the CPU and battery.
I've searched in other forums and I couldn't find any resolution or workaround for this issue, since no suggestion worked for me (reinstall application, turn Finder extension off, disable/enable files on-demand, fix permissions, etc.).
Until this problem is solved, OneDrive for Mac is completely useless.