What would happen if all these large mining farms just up and quit business? They have allow of money in bitcoin and all, but what if one of them decided to try to pump the price and then just stopped mining, or just stopped mining for some reason. Is there enough power throughout the rest of the world to keep bitcoin running and confirming?
Smaller miners would swoop in and take the opportunity to make some money off of a decreased competition and increased market share for individuals. Even those with higher electricity costs are suddenly able to be a bit more competitive.