Mining profitability plummeted

Against the backdrop of a collapse in prices on the cryptocurrency market, the profitability of Bitcoin mining also began to decline sharply.

Mining profitability is measured by comparing the cost of mining with the market price of BTC. This indicator is displayed in dollars per TH / S, currently it is $ 0.07 per day for TH / s.

On March 6, this indicator was almost twice as high – $0.15 per day.

At the end of June last year, mining profitability was $ 0.50 per TH / s, and in mid-December 2017, this figure was close to $ 5.00.

The current level of profitability is the lowest ever recorded because the market value of BTC has fallen dramatically and very quickly, and the hashrateAt the beginning of March, the hashrate reached its peak and since thenfell to 97.9 EH/s, losing 30%. 

MTC lost more than 40% in price, and this was one of the main reasons for the decline in mining profitability.

Due to the high hashrate, mining costs have not decreased significantly, while the income of miners has noticeably decreased. 

If the BTC price does not rise in the near future,miners may begin to stop the mining process due to lower profitability. In this case, the hash of the network will decrease and, therefore, profitability for those who can continue mining will increase.