Why does increasing mining competition mean that people who have taken the profit on their Bitcoin purchases will be making a loss?
I think he might be thinking that such a large mining farm will boost interest in Bitcoin and that more people will relocate there or start investing in Bitcoin. Bitcoin businesses draw attention in the media and then people start buying, which in turn..push up the price. The problem is that this exposure is not enough to push Bitcoin to the ATH again, for people who have bought, to regret their decision.
We need HUGE global news for this to happen.