Price is one factor, but ultimately the actual price is secondary to the fact th...

		root_axis on March 10, 2021 \| parent \| context \| favorite \| on: Bitcoin may consume as much energy as all data cen... Price is one factor, but ultimately the actual price is secondary to the fact that miners are incentivized to hash as much as possible because more hashes per kWh means more earnings, regardless of the actual price, yet this increase in hashes per kWh doesn't actually provide more utility for the network.

Only if miners paid their costs in BTC which they don't (yet).