Jan 5, 2022
Yes, that's true globally for the most part but bitcoin can relocate to those places where electricity is particularly cheap which is normally near hydroelectric, solar, and wind farms for the main reason that it is cheaper than burning oil. For example, Iceland has many miners because of the geothermal energy, and in China, they were using mainly hydroelectric.
That's the beauty of Bitcoin, they can follow cheap electricity production thus promoting green energy