Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.
Ask him if he do mine bitcoin. I don't mine bitcoin but I know it's still profitable if you have large farm to held your mining operation. Nowadays it's easy to say something base on your view without applying or experiencing on how it really works.
The cost of mining in venezuela is lower!
Also the temperature must be considered like genesis' one location in Iceland.