Naysayers have always established that ‘It is No-Longer To Profitable to Mine’ looking at the current prices and analyzing it with the mining difficulty and total hash rate of the network. However, leading Bitcoin expert and proponent Andreas M. Antonopolous states that the average bitcoin miner is still making a profit.
Moreover, he accepted the possibility that some of the miners might be incurring loss today to gain from the increase in price in the future. However, that is not true to the entire industry which is continuously being made profitable in its newest versions of mining hardware.
He said in a video blog that:
“Ofcourse, some miners are gonna take risks… and effectively mine at loss today in anticipation of an increase in price in the future… This can work for small scale miners.”
Furthermore, new mining equipment is being designed and developed with increased vigor in the current markets. Hence, according to Antonopolous the apparent average of the entire mining…
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