[ttul]

Bitcoin mining reduces to a process of energy conversion. Electricity goes in and money comes out. The latest and greatest mining gear is much more profitable than older gear. As more people buy the new stuff, they are able to run more calculations with the same amount of energy. This pushes up the cost of mining for everyone, since more hashes per second are happening for the same energy input.

Those on less efficient gear eventually get pushed out of the market because they can’t make a profit.

A 5nm node is many many times more power efficient than 130nm. There’s no contest. An ASIC with that kind of power draw would not be a profitable mining processor.