My iPhone is connected to a wireless network, if I use it as a personal hotspot for my desktop via USB, will it be using the network my iPhone is connected to?

My desktop is in the basement and doesn't have a way of accessing the wireless internet from my router unless I buy a 100 foot ethernet cable to connect to my router upstairs. My iPhone is set up to automatically connect to my wireless home internet.

I was just wondering if my iPhone is connected to my wireless network and I turned on the personal hotspot option, could I use my home internet on my desktop by connecting my iPhone to my desktop using the USB cable?