The Main Question is that why Bitcoin mining is not profitable???

Hash Power distribution for pool miners data from Blockchain.info.

Yes, you heard right question.

So, let me start answer of this question.

Before my answer I have a story for you that is related to this question. Because a couple of week back I read on @themarkymark post that he sold all his Ethereum mining equipment because he is was not getting much profit in mining and the cost of electricity and all was much higher than the mining of Bitcoin/Altcoins. I don't know why he did so but one reason was there that @themarkymark was hardly earn $8-10 per day after using his electricity power and all other equipment like GPU/Antminer setup that was quite expensive than earning profit. It means he was earning Bitcoin and Alt coins only in the ratio of worth $8-10 per day while expence was more than profit.
But in my point of view, I personally never use any mining neither Solo mining nor Pool mining. Because for me Trading is more profitable than mining if you are doing well in Trading and you could earn more profit in trading after investing $1000 in trading than investing $1000 in mining Set up.

And the current situation will sure and certain discourage/disturb you if you have a mining setup. And will be in loss in mining. Not only in mining loss but also in trading loss. But if You are good in mining then you will never in loss. Just taking advantage of BTC/USDT trading.

So, Comes down to Bitcoin Mining and Let's Calculate it current date 08/08/2018. And If you will visit to Crypto compare and coinmarketcap.

The calculation will easily show you 66% loss per day and $73 per month. you can see on the above Pictures.

You will be unhappy. There is clearly showing that 66% loss in Bitcoin mining. It means miner is only producing 0.0001999 BTC (1999 Satoshi) that is only about worth $1.30 after consuming worth $3.72 electricity and other expenses power.

Now, scale it up to weekly and monthly and yearly scale you can easily calculate your profit/loss.

But if you are mining Ethereum then it comes to quite profit up to 18% daily.

The above calculation shows that your minor is giving you huge loss as per current situation. (It's not means that you are in loss, Just it is market situation and You this mining may be convert your loss in huge profit after some times once market will turn to bull and Bitcoin touch the $20k, $30k or even $50K.

Above calculation is depends on the base of a pool mining Set up and the market situation on date 08/08/2018. it may be change by tomorrow and your loss may be increase or decrease.

Note:- Above mining calculation data is assumed for a pool mining set up with 4730 GH/s hashing power.

But here is my main point for solo Minors because Most of the Solo miners are using domestic electricity to run Bitcoin miners Like "Ant Miner, GPU Miner" and other. that is not only giving loss to a miner but also giving loss a country. Because Domestic Electricity should be only for our domestic and basic use and we should never use this valuable electricity for our commercial use without any proper permission.*

Last year China faces many problem due to electricity shortage in China. After that they banned Bitcoin mining in their counrty.

Never use domestic electricity for commercial use like bitcoin mining

I don't know @themarkymark will start bitcoin mining again or not but he took a Step out to exit from Bitcoin mining few weeks back. And I think @themarkymark is not the only Crypto lover who exit from the mining but also there are many more Crypto lovers, who exit from Mining during past few month due to market reaction after Dec.-Jan 2017-18 crash.

Disclosure: Mining metrics are calculated based on a network hash rate of 42,588,381,415 GH/s and using a BTC - USD exchange rate of 1 BTC = $ 6,485.41. These figures vary based on the total network hash rate and on the BTC to USD conversion rate. Block reward is fixed at 12.5 BTC . Future block reward and hash rate changes are not taken into account. The average block time used in the calculation is 600 seconds. The electricity price used in generating these metrics is $ 0.12 per kWh. Network hash rate varies over time, this is just an estimation based on current values.

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@devkapoor423 (Dev Kapoor)

Reference:- https://www.cryptocompare.com/mining/calculator/btc?HashingPower=4730&HashingUnit=GH%2Fs&PowerConsumption=1293&CostPerkWh=0.12&MiningPoolFee=1

and https://steemit.com/ulog/@devkapoor423/my-u-log-series-story-of-a-steemian-ghost-house-part-1