Because PoS is making money out of thin air. It doesn't require any money to be poured into it. It produces money with no value, inflationary money, diluting the supply in the process, just like ETH is doing.

I guess all those US mining companies that went bankrupt weren't really that big because bitcoin's hash rate is still 25% higher than it was in the peak of 2021.

Fear mongers want us to panic because the price went down 75%, one scam exchange went bankrupt and some miners in the US had to shut down due to Winter power shortages, but in the meantime the number of wallets containing 1 bitcoin is at all time high and hash rate is higher than it was at the all time high and 2 times what it was in the middle of 2021.