Price is one factor, but ultimately the actual price is secondary to the fact that miners are incentivized to hash as much as possible because more hashes per k

Price is one factor, but ultimately the actual price is secondary to the fact that miners are incentivized to hash as much as possible because more hashes per kWh means more earnings, regardless of the actual price, yet this increase in hashes per kWh doesn't actually provide more utility for the network.