Post
Topic
Board Mining speculation
Re: Has Bitcoin mining ever been so unprofitable?
by
Bucc5207
on 13/03/2018, 21:10:32 UTC

It did not include input costs, though that's the only place where one is able to get a competitive edge.
Thanks for confirming that.  So there you go.  The 'joke' chart answers your question, since it gives the full history of 'profitability' (as used in the OP).  It has been somewhat worse in the past.  I think it will get still worse in the future.