It's not generating dollars. It's generating a digital asset that is worth something. Of course the value of any commodity is based on what people are willing t

It's not generating dollars. It's generating a digital asset that is worth something. Of course the value of any commodity is based on what people are willing to buy it for, so your observation in no way discredits the point, that Bitcoin mining is generating something that objectively, based on what the market is paying, has value.