Research on the ground? Has JPMorgan actually gone inside a rig farm and spoken to operators? Seen bills for electricity?
They just act stupid. It's all done to fuel their anti Bitcoin narrative. These entities have all the funds, manpower, tools, etc, available to them to conduct research in the most effective possible way. It's just not in their interest to actually publish it. It's valuable information they utilize internally, because publishing it means free info for other financial institutions and entities looking to enter this space.
In the end, they know that the system they participate in consumes way more electricity than Bitcoin does, even if the Bitcoin network itself grows another few hundred %.
In case of JPM, we don't have to look at what they say (it's shit anyway), but look at what they do. Actions speak louder than words.