With some napkin math, you can conclude that with current mining difficulty and 5 cts/kWh, a miner needs the Bitcoin to sit at ~26000$ to offset the electricity cost of a S19 Pro Antminer post 2024 halving. Maybe new ASICs can offset some costs by being more efficient, but the miner still wants to earn money, so there is only one way for Bitcoin, otherwise the network will loose a lot of weight quickly.