I really like to but mining a 25.000€ bitcoin in Germany cost >50.000€ (plus hardware, rent, staff, insurance,....)
North America looks like the best place to set up mining operations, it is a technologically advanced region, good infrastructure, has affordable and stable electricity, is a functioning nation and so forth. Energy prices will only go up in Europe, there will be no European mining operation except proof of concepts or for educational purpose in the foreseeable future. I say the North American bitcoin mining industry keeps growing. 


https://image.nostr.build/910a336c99f3faba530cb3dc732b16493cbebeabc96ba20d830f227495f8acf0.jpg
Data for the map collected in March 2022