The profitability of POW mining depends on three factors:
(1). the cost of electricity used for the mining
(2). the cost of the procurement of an ASIC machine
(3). regular servicing and maintenance costs of the mining system.
As the demand for Bitcoin increases, the overall costs of POW mining keep increasing. The important question, therefore, will be: Is Bitcoin mining still profitable?
The answer is: “Yes, Bitcoin mining is still very profitable.”
To understand why POW mining of Bitcoin is still profitable despite the overall exorbitant costs of running the system, you will need to know two characteristics of the Bitcoin Blockchain, which are:
• Finite Coin Supply
• Halving Technology