BTC Hashrate Grows, But Mining Profitability Decreases

BTC hashrate reached 52 quintillions per second 3 days ago, but this fact did not have significant impact on miners’ income. Moreover, BTC hashrate has increased by 3 times since the start of the year.
BTC hashrate is directly connected with the speed of mining of cryptocurrency. Mining equipment should perform complex calculations and find blocks, so equipment has to make a lot of calculations each second. That’s how hashrate is calculated.

Bitcoin mining, hashrate and the level of difficulty are connected in several ways. If the hashrate increases, the level of difficulty grows, too; in its turn, it leads to the fact that the miners will get some number of BTC and a part of transaction fees.

However, recent increase in hashrate didn not lead to increase of profitability of mining companies. Maybe, electricity costs are the reason. The higher the price of electricity is, the smaller the income got a miner is.
Speculators of the cryptocurrency market think that the bitcoin miners who have not bought the new equipment consume more electricity, consequently, small miners get less income.