Only if you take future appreciation as axiomatic (or extremely probable).  On a delta-neutra/efficient-market assumption, current price is the best predictor of future price, and your future as a miner is that you will be condemned to eternal losses.  Much better to defect, use massive hash power to fork the chain, adopting software which is designed to make the fork more appealling to more fiat -- as, e.g., if the IMF were to make an offer, or perhaps just tweaking the parameters, reducing the long-term rewards and asymptotic money supply in exchange for larger immediate rewards for the current miners, preserving existing bitcoin wallets, but attacking and re-forking all other branches into oblivion, so that entrenched owners have no choice but to play along.  Anything is better than infinite losses.