It's not as much about Bitcoin as it's about capitalism. If you can make profit on using electricity, you will use it. If you can make a profit on building coal power plants, you will build them. Bitcoin is just yet another thing in the pile of products where externalized costs are not included in the price.

The greater problem is how we will solve global capitalism in relation to environmental destruction. Nation states that do not have any moral considerations have a competitive edge over those that do.