Basically, yes. There are minor improvements to be made to keep the reward for miners as low as possible. In the end the energy consumption comes down to burnin

Basically, yes. There are minor improvements to be made to keep the reward for miners as low as possible. In the end the energy consumption comes down to burning energy proportional to the block reward. https://blog.libove.org/posts/the-cost-of-proof-of-work/ https://blog.libove.org/posts/the-cost-of-proof-of-work/