Experts: Profitability of Mining Will Fall

Bitcoin mining remains a profitable activity, but its profitability is under pressure from a decrease in the price of cryptocurrency and an increase in the network hashrate, Arcane Research analysts have pointed out.

They have noted that since the beginning of the year, the cash flow from mining 1 BTC has been in a sideways trend. After deducting electricity costs (at a rate of $0.05 per kWh), the Antminer S19 device brings in about $31,000 per Bitcoin, taking into account the price of a coin of $39,000. The income from the operation of the less efficient Antminer S9 is already approximately $13,000 per 1 BTC.

The most important factor for the profitability of mining is the price of cryptocurrency, which has fallen from $46,000 to around $40,000 since the beginning of the year. The network hashrate, which has increased by 15% over this period, also seriously affects profitability, experts recalled.