[Nursie]

> That's assuming that the mining hardware doesn't get more power efficient

The efficiency of the mining equipment doesn't really matter.

It is always worth spending almost as much money on electricity as the cryptocurrency generated. If someone comes up with a more efficient miner, it is profitable for them to roll those out until the power equation levels out again.

Mining equipment efficiency affects the total network hashrate, but not the overall power consumption.

[thebean11]

That's assuming energy is the only bottleneck in rolling out more equipment.

I think so far you're right though, and this has been the case.