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This case seems like an aberration, though? I think the logic goes something like this: bitcoin miners have a huge incentive to find the cheapest power in the world; renewable energy sources are cheaper than fossil fuels and getting cheaper all the time; therefore miners will prefer renewable power.


Renewables are getting cheaper and are in certain circumstances but in general they definitely are not cheaper than fossil fuels.


New renewables are cheaper than new fossil fuel plants.

https://ourworldindata.org/cheap-renewables-growth

That's enough to eliminate them over time, because the plants do get old eventually. And the trend is for renewables to get even cheaper - this means any study using current prices is going to be extremely pessimistic, it's going to get even cheaper and obsolete your results.


At current prices why do they care if it's cheap? Coal seems to make sense for a bitcoin miner




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