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 Mining is a race to the bottom. It will always be. Going bankrupt will be common. Somebody else will pick up the slack/tech and keep going.

When each phone comes with an ASIC miner inside, there won't be space for mining companies. 
 long ago a company tried to do that and had deals with qualcomm, but for whatever reason it collapsed.  the company was called 21.  yes really 🌊

maybe someone will try again, but phones hate using power, it makes battery go ded. 
 phones had to slow charging down at night because they can't use all the energy provided to them :)  
 ya but its more about battery cycles and etc.  the phone would need to switch off battery to direct power for heavy power use.. 
 Which is possible while charging :)  
 mm, with a shutdown, toggle switch, startup. ive seen laptops that can do it.  also all that heat is bad for battery too. 
 I am sure engineers can figure it out. 

I believe people interested in keeping money safe (which will be a small part of the users) will be happy to pay to mine as long as bitcoin survives. 
 Not the best example but Pi Coin was started on the idea of PoW and mining on phones.  The concept is there.  And consider scale,  a mobile might only produce a small hash rate but enough cell phones/tablets etc and the hash rate of the network still maintains.  
 ASIC/cooling in a charging base, processing and connectivity in the phone. Charge and mine while you sleep. I'd buy it. 
 Ugh I think it was sexcoin that we used to mine on da phones back in the day 
 And the phone miners dont have to hash 24/7. Look at settings and optimizing best times based on battery usage.  Figure out the heat issue and were off to the races  
 are you saying miners/mining facilities now are like computers were in the 60s? 🔥 https://image.nostr.build/68e5d3f87c0cb6c484c1ed66647b30d74ad16fe2f934ac811ee87fc3857e9d14.jpg  
 likely 
 Good answer. I believe that if this thing is supposed to work at all and prevail, current mining operations will be seen as very archaic and ludicrous.