Incidentally, Bitcoin miners make around $15bn a year (45k $/BTC * 6.25 BTC/block * 1 block/10 minutes * 60 minutes/h * 24 h/d * 365 d/a), of which probably mor

Incidentally, Bitcoin miners make around $15bn a year (45k $/BTC * 6.25 BTC/block * 1 block/10 minutes * 60 minutes/h * 24 h/d * 365 d/a), of which probably more than half is cost, so running a profit of a few $bn a year. On the other hand, the externalities of burning 15 GW amount to about $5bn a year. So, the mining does not generate economic surplus, but constitutes a transfer of value from the public to miners.