PoW is moving toward a dead end. IMO.
No matter, where you lean on the energy usage, the government bans point to a problem that is being ignored by PoW developers.
Anyone studying the development of blockchains, see Proof of Stake designs achieve as low as a 4 second block speed with 100% protection from double spends.
Also all of the future development seems to be in the Proof of Stake blockchains,
Proof of Work development seems stagnated mainly due to the artificial limits imposed to keep users from needing to have modern computers for nodes.