Wow, this is tremendously useful knowledge that is very hard to find. I agree that there's no free lunch when it comes to ASIC mining. Each hosting option has different trade-offs.

If I had a million bucks to invest in mining, I would go with the small warehouse with $3k/month of overhead, but I would buy reliable equipment so that labor cost is zero. It is possible to upgrade the power supply past 400A to 1-2MW, but only if the utility company will do it for free/low cost and that area has enough grid capacity. Let's say operating cost remains $3k but power capacity is now 1MW. The rent premium is just 0.4¢/kWh. On top of that, there are only 300 ASICs or so, and if they're reliable, only 1 or 2 will break every month. It should take 5 hours a week max to manage this operation.