This price is very good as compared to developed countries as well. I do think we will soon be seeing an era where the small countries take over the mining. This could help them financially as well. The redistribution of wealth is very long due.
Not only in Kazakhstan but also in other countries where we can have cheap energy sources in order to convert them to electricity for mining. El Salvador is one of such countries with free thermo-energy from volcanoes.
With mining, it is risky if you have to invest into mining rigs, ASICs in case of Bitcoin, pay for electricity bills and in some periods, with market bearish or crashes, you will have to afford to temporary loses. It is why in some periods, we see big capitulation from weak miners. If miners use cheap or free energy, they won't capitulate too easily.
I think you're putting too much confidence in the average investors logic
. I'm pretty sure certain investors have been fooled several times about Bitcoin being a bubble, and x country bans Bitcoin, and therefore we're going to see it go down to zero. The thing is most of the news is rehashed crap, and there's generally never any real reason to listen to them, as it's mostly pushing their own agendas.
They are just manipulated by news, bans, FUDs but if they have strong belief, diamond hands, and don't have pressure from margin call, they can keep holding, keep mining and wait for better times to take profit.
Endthefud.org. See Energy section
