Bitcoin is "special" because you've got hardware that will pay for itself in 2 years and be obsolete in 4 years. So if you've got it turned off 50% of the time, you're losing money.

But if you're in a different industry, with equipment that takes a longer to become obsolete or wears out before it becomes obsolete, lower utilisation might be fine. Plenty of capital equipment spends loads of time idle.