John Todaro, an analyst from the investment firm Needham & Company, was quoted as saying “Bitcoin prices holding steady…is not tenable for a number of crypto companies, and especially not for high-cost miners,” adding that “post halving, lower-cost miners will take market share while higher cost producers will need to cut hash power contributed to the network until bitcoin prices rise”.
Dear John, "high-cost miners" are obviously not as competitive as "low-cost miners". However, bitcoin mining as an industry is unique because miners can simply take their mining equipment and move it somewhere else. Did they invest in local infrastructure in a "high-cost" environment? Well, bad business decisions lead to bad business, such people will fail sooner or later, no matter how.