Ok - the original comment was referring to the implied connection between electricity prices and mining feasibility. This is too simplistic. This assumes that there are no infrastructural barriers between the construction site and deployment site for bitcoin hardware. However, I postulate that new hardware "migrates" from easily accessible deployment sites to energy efficient ones. As such, hardware lives along a gradient with a drift towards sites with cheap electricity, where the forces pushing are bitcoin price developments and advances in bitcoin mining IT, to name two. (Thus the analogy to steady state systems). While bitcoin price is a somewhat reversible process, bitcoin mining IT is not.

What this likely means for mining equipment providers is that in the intermediate term the ability to migrate and maintain beats efficiency. That's why developments by Allied Control are so interesting which focus on ease of deployment.