For the casual observer, yes. For a "professional" miner, price swings are irrelevant. The same quantity of bitcoin is mined independently of the price. Bitcoi

For the casual observer, yes. For a "professional" miner, price swings are irrelevant. The same quantity of bitcoin is mined independently of the price. Bitcoins mined in March are worth the same of bitcoin mined today even if price is 10x now. And in March the same hardware mined more bitcoins than now. Big miners are datacenter sized now, and such things are not built during a bull run.