Even AM will regain the 15% hashrate percentage end of this year, the situation is totally changed campared to 2013. There are more electricity cost、management cost etc. So the net profit will be lower.
Also, in the long term, the industry profit of mining will only go lower and lower , in this point, mining profit maybe still larger than 60%, but in a free market where strong competition works , even the industry profit 20% is still large.
So, maybe in 4 years , the industry profit will down to 10% .
That's how economic law works, even the Friedcat for president can't changed the law......
Or Btc goes up, negating electricity and admin costs. Long term, probable decline in profit but this is not an issue with access to cheap chip production. I.e. make lots of chips, squeeze out expensive producers.