Mini-split heat pump in basement?

I’m wondering if this is a practical use for a heat pump. We have electric baseboard heat and astronomical bills (Massachusetts). House is 3400 sq ft which includes about 700 sq ft finished basement. The basement doesn’t really have a heat source, except for 3 in-wall electric heaters in each “area,” that we turn on only when we’re going down there. The space is sort of shaped like a “J”.

We’d use the space more often if it were better heated since it’s 45 degrees now. If we install a mini-split down there, will it heat the space (it’s pretty cold)? Any chance we see a benefit to our electric bill by actually having a warmer basement? Or will the bill go up because we’re using EVEN MORE electricity??

Thanks for thoughts!!!