Because of the increasing competition and difficulties, there are many factors that must be borne in mind when mining bitcoin, as shown in the following list:
- Bitcoins are getting more expensive day by day because of competition
- Many supercomputers across the globe are in competition to mine the next block and bitcoin
- As the number of bitcoin miners has increased, it has become more problematic and overpriced to start mining new bitcoin
For example, the following screenshot shows a chart of how the difficulty of bitcoin mining has been increasing; for more information refer to https://bitcoinwisdom.com/bitcoin/difficulty. This particular chart shows values from the last two months. This recent trend reflects the increasing difficulty that began when bitcoin was first created:
