Im not 100% sure how it works but they get paid more for the electricity than they make with bitcoin. Society will always pay more for energy than miners. Bitcoin miners just set up shop where there is wasted energy.
Biggest take away from ETH Denver… more “Fiat Fueled” degeneracy.
This should be expected as the majority of the planet is still very much on the fiat standard.
Including most “crypto people”
https://m.primal.net/Hhmy.jpg
Notes by ck | export