3. Not working as well as you think. At some point , No country will allow bitcoin mining, because their energy waste threatens the entire power grid.
Speculation & FUD.Try News instead of fud.
https://www.bloomberg.com/news/articles/2021-10-13/bitcoin-miners-fleeing-china-could-overload-siberia-s-power-grid
Quote
Bitcoin Miners Fleeing China Could Overload Siberia’s Power Grid
https://protos.com/bitcoin-miners-overload-kazakhstans-electricity-grid-forcing-rations/
Quote
Kazakhstan will ration electricity and even cut off over-consuming customers after a wave of Chinese Bitcoin miners pushed the country’s unprepared power grid to breaking point.
This leaves out of the equation the fact that all kinds of technologies can and will improve, the power grids included. I have no idea whether Siberia a decent reference point for strong power grids that could truly suffer from overload. In fact, one day rising Bitcoin prices could even be an incentive for countries to improve their infrastructure.
Oh and by the way:
https://www.nasdaq.com/articles/research%3A-bitcoin-consumes-less-than-half-the-energy-of-the-banking-or-gold-industries