They're missing that the reward has fallen below the cost of non-renewable energy, such that the only profitable way to mine Bitcoin now is with renewables. The only way to profitably mine Bitcoin with any country's electric grid would be if someone else is paying the electric bill for you.

> Electricity is probably a lot cheaper in China.

Specifically, miners in China are famous for colocating with overprovisioned excess hydroelectric power that is not transportable elsewhere via the grid.