Bitcoin mining is being banned in countries across the globe
The &quot;Bitcoin energy problem&quot; has always been a short term issue, as it exposes the problem of under-priced fossil fuel that do not yet capture externalities (fossil fuels are subsidized by governments, and most countries do not implement a carbon tax).<p>Bitcoin comes along and becomes the most profitable way to monetize energy, so of course you have this profit seeking behavior of arbitraging low cost energy for btc.<p>This isn&#x27;t as big of a problem in the long run because renewable energy from solar, wind, geothermal, are now the cheapest forms of energy, and will probably get even cheaper. This means new capacity from these sources are likely to be built out increasingly in the future, and development would be accelerated by proper pricing of fossil fuels. Combine this with improvements in batteries and other complimentary technologies (solar roofs) and the future of self sustaining, affordable renewable clean energy is very promising. It does not make sense to use fossil fuels for mining in this future when fossil fuel gets priced correctly.