One upside of Bitcoin style mining is that its mining chips can't be used for anything else (no GPUs, CPUs, FPGAs, or SSDs used for Bitcoin mining - only special SHA256 ASICs), so it doesn't have much effect on the supply of semiconductors outside of a small number of older foundries allocating some capacity to BTC chips. Other projects like Ethereum intentionally used GPU-optimized mining algorithms, with the idea that this would help decentralization (which hasn't really worked for various reasons).