Costing money to mine it, doesn't actually give it an intrinsic value, it just is USD or BTC cycled back into the economy via the purchase of computer equipment (jobs) and electricity (jobs). If once electricity is spent on mining coin is coin electricity LOL joke!

In reality tho, electricty is non permanent, so it can't be argued that is the intrinsic value. If we mine steel, that doesnt make its value - the fact that it is used in all infrastructure vs total supply is where value is derived and then market forces are layered in.

BTC intrinsic value is a function of its network only this case.