It is always a good idea to set up mining during the lows, as equipment price is low and setting up time is required.
Compare to conventional investments, crypto mining still enjoys an assailable advantage by breaking even within 2 years, at most.
The hashrate growth is also evidence of the rising cost of mining, which translate to a stable long term growing price.
Bitcoin Hashrate Growth Continues At Astonishing Pace
The hashrate securing the Bitcoin network continues to soar, surging to over 40 EH/s in June 2018 despite several months of downward pressure on Bitcoin prices. Current hashrate is now well over double the 2017 peak of around 13 EH/s, or to frame it differently, hashrate has increased by over 100% across four months. Such growth is certainly impressive but must present something of a challenge to any companies operating within the mining sector, as continuous reinvestment becomes necessary in order to remain competitive and ensure a degree of profitability in the medium term.
The impressive surge in Bitcoin prices in the final months of 2017 will have pushed up mining profitability, and historically price appreciation tends to be followed by deployment of additional hashrate. However, the inelastic nature of setting up and turning on new ASIC mining equipment tends to result in a delay between rising Bitcoin prices and any resultant climb in hashrate. This is due to the time required to set up new facilities, especially as mining profitability tends to hinge upon miners obtaining rock-bottom electricity deals, which are only available in certain locations.
……
Click here to read more : Bitcoin Hashrate Growth Continues At Astonishing Pace