Technically it makes sense. I don't know how that would work economically, especially in China. In theory, the org/company/gov that wants to do high electrical consumption activities that are location agnostic would move to the low cost areas because that would be most attractive to their profit margins. The part that gets more tricky would be who is generating the bitcoin and how are they using it to send values to the big cities? You could have the government mining the coins and then selling the coins to others and using that money to offset the higher costs in the cities. But there are other questions, such as why do this when you could incentivize companies to move the the cheaper electric area or let the economics for companies into those areas?