I have always been interested in mining cryptocurrency in a very long time and my biggest obstacle has always been the financial resources to purchase mining rigs and electricity required however remaining crypto-currencies became almost impossible for me because of the high cost involved and very low profit margin so I am pumped to ask that with the recent pumps in crypto prices and everything going to the moon is it profitable to mine Bitcoin in 2021 or any other altcoins please let me know.
How profitable mining depends on the various factors. imagine when you are having a lot of hashrate power and you can generate very good daily profit from your mining. It can't be said when crypto gets pump and you will be profitable to mine crypto and this is not how it's working.
When the price increases the miners were putting more and more mining rig and that will make the difficulty will be increasing even higher too.
https://etherscan.io/chart/hashrateIt's an example and you must see that.
The difficulty will increase along with the pump that happened with the coin.