Likely yes but it depends on the Bitcoin price. The amount "wasted" (i.e. securing distributed ledger against attacks, providing difficult to fake notary servi

Likely yes but it depends on the Bitcoin price. The amount "wasted" (i.e. securing distributed ledger against attacks, providing difficult to fake notary service for transactions) is dependent on block rewards and fees. Since the block reward makes up most of that and has now been halved, you should expect less resources being put into mining (i.e. unprofitable miners will turn off their machines). If the price of Bitcoin now doubles presumably no miners will be turning off their machines. If it doesn't double, some fraction of all mining setups just became unprofitable.