There are many actions being taken by the Bitcoin mining industry to improve itself, and criticism about the environmental impact of Bitcoin mining is becoming increasingly irrelevant today.
We can't deny that Bitcoin mining has huge environmental impact and already harmed it a lot but it's a fair price to pay IF it works.
Now IF the projects drops dead at some point, then this whole mining will go to waste and Bitcoin will become the biggest waste of resources in the history of mankind. (this needs Clarkson voice-over in your head)
I really appreciate that you shared this critical view with us. What you say makes a lot of sense, and linked to the other argument about halvings it's truly worrying. But if there is such a real risk in the mid term (8 years from now) what do you think could be the reason behind BlackRock and other funds are are accumulating so aggressively?
And, on the other hand, what more profitable projects do you think miners would switch to?