For everybody interested here allready the attempt to make a list of all regions and countries with electricity prices. It’s clearly visible that most countries and regions are allready out of the mining game.
Just to give some examples:
The german home miner with 33 cents per kw/h has to compete versus the chinese industrial miner at 2-3 cents.
The english home miner with 21 cents per kw/h has to compete versus the 2.4 cents industrial russian miner.
These are powerfull western countries that invested in the past a lot into hardware but are not any longer for sure. Means all this hashpower gets shifted towards some few low electricity regions/countries. What’s left even for the countries with less buy power and higher electricity costs?
Additonally, once these low electricity cost countries/regions have the main hashpower over time even later at higher coin prices it would be extremely difficult for the higher electricity countries to catch up again due the allready higher difficulty network level…