The way it works is the difficulty of finding the next batch of blocks automatically adjusts itself, this is how blocks are mined every 10 minutes. If the 'block time' gets shorter than 10 minutes the hashing problem is made harder so it takes longer to find the answer, if the block time gets longer than 10 minutes the hash problem is made easier so blocks are found more quickly.
So you can increase the amount of hashing power x1000 or reduce it x1000 and you will still get the same number of blocks, and that equals the same number of Bitcoin issued per day.
This is why Bitcoin is so wasteful to mine, because you keep throwing more energy at the system just to keep the status-quo. Think of the first 100 blocks, they were mined by a small group on 10 year old CPUs.
If you could get an agreement on limiting hash rate there would be the same number of Bitcoin issued, but it only takes one group to break the agreement and try to steal more blocks for it to fall apart.
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Thanks a lot for this answer. Only found it today.