If (cost of providing content to EU visitors) > (revenue generated from separate non-personalized ad network for EU visitors) { turn off EU visitor access }
Nor me, but I would guess that blocking EU traffic is neither necessary nor sufficient for avoiding compliance with EU law. Not doing any business in the EU would seem to be a more obvious general solution.
For example, you may block EU traffic, but if you have a bank account in the EU, and if an EU citizen discovers somehow, perhaps while travelling abroad, that you are misusing their personal data...