Prices are down, but is BTC mining still profitable? Depends.

The vast portion of mining power is sourced from China.

The recent slump in coin prices has led to concerns over the feasibility of mining operations. However, mining operations are still profitable in some parts of the world; the lower Bitcoin price is making way for diversification in the mining

industry by enabling the growth of farms in countries with electricity prices that are lower than the energy costs in China.

Opportunity for newer and better services Just a few months ago, B T C prices allowed some mining facilities to control a large part of the network hash rate. Even if the competing mining groups offered lower rates and better returns, the established mining groups outperformed the new entrants; In addition, the established groups had the cash flow to constantly increase their hash rate, thus intimidating the new participants. Now, the hash rate is not increasing; it is depreciating Since the market leaders no longer increase the size of their mining farms, the new market participants are entering the market with confidence, knowing that their participation in the hash rate will not fall in the short term. Now, the new mining farms that are starting operations in countries with low electricity costs such as V E N E Z U E L A are able to easily assume the objectives of the mining industry. Newer mining farms are following disruptive business models, as they seek to charge low rates, provide a better service and pass all income from transactions to users. C r y p t o n o r a s, a relatively new mining operation, aims to lead the shift towards a more globalized presence in mining farms. The mine is located in Norway, which allows its users to benefit from a unique set of benefits. The status quo of the mining industry Established mining groups have enjoyed the benefit of limited competition. This has allowed them to charge high fees, consume a high percentage of the rewards in block of the mine and even maintain the transaction fees of the rewards en bloc. AntPool AntPool has long asserted its dominance over the market by grouping platform after platform to keep the competition at bay. This gave them the ability not only to keep 2.5% of the rewards en bloc, but also to maintain the transaction fees. BTC.com This mining group faces AntPool by not charging 2.5% in block rewards. However, its other fees, which add up to 4%, are even more than what AntPool takes. F2Pool Unlike what the name may suggest, being part of this group is far from free, as it claims 3% of the rewards en bloc and still maintains the transaction fees. In addition, AntPool and F2Pool have neglected the returns of users in more ways than one. An event that serves as testimony to this is that the operations of these farms in Bitcoin Core 0.9.5 caused them to lose tens of thousands of dollars during the bifurcation that took place on July 4, 2015. Those funds were the profits due not the farm, but its users; Negligence on behalf of the groupings led to a loss for the users of the groupings. Time for change New entrants in the market, such as Cryptonoras, are willing to improve the quality of their service in order to acquire a greater share in the market. Therefore, they keep their mining operations updated with the latest Bitcoin Core updates. More importantly, they ensure that the hash rate is not concentrated in just one country. This allows them to focus on the opportunities available throughout the world. For example, Cryptonoras, takes advantage of the incredibly low energy costs in Norway. While energy costs are $ 0.08 kWh in most regions of China, Norway's low energy costs, $ 0.04 kWh, give miners the opportunity to obtain incredibly low operating costs. In the case of Cryptonoras, the operations remain profitable even if Bitcoin's current low price forces some large and consolidated miners not to reach breakeven. In addition, the Chinese government has an increasingly negative position vis-à-vis cryptocurrencies and operations related to Crypto. The Scandinavian and northern European governments are leading the way in the positive approach. This allows the mining facilities there, such as Cryptonoras, to have access to insurance services. Therefore, the assets operated by Cryptonoras will be insured, which will give users more peace of mind. On a valuable note, decentralization and the increase in the spread of the extraction rate have accompanied another benefit. Mining services such as Cryptonoras only charge an initial contract fee; after that, there are no cuts in users' block rewards or transaction fee gains. The Cryptonoras P l a n s aims to make the masses gain access to a stake in the mining operations. This allows the production of the farm, the profit per block reward, to be distributed

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