Aren't they still talking about the negative externalities of electricity production that aren't being captured? This is a problem with regulatory capture produced by all computing.

Cryptocurrencies do electricity price arbitration over the internet. If the cost of electricity includes the cost of its externalities, the amount of energy used by a cryptocurrency that consumes electricity scales down accordingly.

Mining Bitcoin with power from a solar farm in a desert isn't producing emissions like mining Bitcoin in upstate New York using a revived coal plant for power that doesn't have to cover the costs of the emissions it's producing.