Remaining on fossil fuels is less beneficial to the economy than transitioning to renewable sources. (Stanford) In addition to being more beneficial to the economy than fossil fuels, renewable energy production is also more cost-effective to build at scale. “It’s now cheaper to build and operate new large-scale wind or solar plants in nearly half the world than it would be to run an existing coal or gas-fired power plant.” (Bloomberg)

What’s more, building faster is cheaper when it comes to renewable energy because zero-carbon technologies follow an improvement curve known as Moore’s Law. (Predicting Technological Progress) In other words, renewable energy technologies will consistently improve in quality over time.

Although the price of fossil fuels fluctuates over time, there is no long-term trend because technological improvements are somewhat limited. For that reason, the fossil fuel industry will struggle to compete with compounding improvements in renewable energy technologies. (Coal-Fired Electricity Costs)

Miners who relocate to the U.S. are expected to be “powered by renewables, or gas that is offset by renewable energy credits” (Fred Thiel, CEO of Marathon Digital Holdings) predominantly because “Mining is price sensitive, so as to seek out the lowest-cost power and the lowest-cost power tends to be renewable because if you’re burning fossil fuels – it has extraction, refinement and transport costs.” (Adam Back, CEO of Blockstream)