Introduction
In the ever-busy world of business, profits and losses are key components experienced by those in it. However, from a very tender age until this minute, I have not come across anyone who chooses to make losses. Certainly, everyone loves to make profits through any means possible.
Uber just made a profit recently in Q2 2023. Btw as far as I know, sometimes mining companies are forced to mine when the profit almost doesn't exist, there are moments like that when the price is very low or when the halving comes, and no one can compensate 2x less reward immediately.
Bitcoin mining is a very profitable business, because mining companies pay back their investments in 1 year.
Bitcoin mining is not a very profitable business, at least not for an average person. It's profitable for those who have free or very cheap electricity and competition is so high that commercial companies have occupied cheap electricity with some bribes to politicians.
Bitcoin mining was profitable but now gradually decreasing mining hash rate regularly. But when Bitcoin mining hash rate was large then it was profitable i think. Moreover huge people still mining Bitcoin. For Bitcoin mining we have to see some things.
It's the opposite. Mining becomes less profitable when more people mine on the global market, e.g. when the total hashrate volume increases. When hashrate decreases, the difficulty decreases too and it's easier to profit.