When mining Bitcoin, efficiency is everything and so is cheap electricity. According to a recent report made by Bitfarms, a Bitcoin mining in Canada, it is spending only $1567 USD per BTC that it mines on the facility. The company is helped by the cool climate of Canada and the low cost of electricity because it uses renewable energy.
https://bitcoinexchangeguide.com/canadas-bitfarms-bitcoin-mining-company/Do you think that this will devalue bitcoin when the cost is quite low and the results get 4 times more?