In fact, vibrant bitcoin mining is a sign of poor decisions in the fiat energy realm. 

Cheap/free hydro in SE Asia is because of centrally planned projects, cheap on-grid in Texas is due to renewable subsidies deployed creating supply/demand disconnects through ERCOT.

Alternatively, if a country’s energy policy reduces waste and lowers red tape, then that energy will be used for more valuable applications than bitcoin mining. 

Bitcoin mining is the energy buyer of last resort, geographically agnostics interruptible demand. The most profitable miner will consume only waste, curtailed, stranded energy…not compete with other productive demand applications.