> Miners are consuming renewable power that would otherwise displace coal/gas elsewhere on the grid.

This isn't necessarily true. Transporting electricity over distances is expensive. I've seen the pricing.

Coinmint, in upstate NY, has a direct feed from Moses-Saunders damn. The lines were originally built to feed the Alcoa Aluminum smelter that once existed there (and became a superfund site). There isn't anywhere else that the power company can send the power, without a huge investment.

Renewable power doesn't displace coal elsewhere. It's a fairy tale.

I mean it either prevents new hydrocarbon from being built, or as we’ve seen in a lot of places in the US where coal is wildly uneconomic, it outright displaces coal.

It can displace coal on spot, but not remotely.