Assume for a moment that the graph in the article is trustworthy. Then mining has been highly profitable for quite a while now and is now getting unprofitable.

Assume for a moment that the graph in the article is trustworthy. Then mining has been highly profitable for quite a while now and is now getting unprofitable. It has been unprofitable before. That's the same as in every busines: There can be periods of unprofitability. That does not mean that such business will die out completely. Especially after a phase of high profits there are buffers and there will be hope that profits will return. The question is how that graph is created. The mining costs are not the same for everybody. Probably some electricity used for mining is not paid for at market prices. (Including some might not be paid for at all) And even if it were, market prices (after subsidies and taxes) vary proably quite a bit over places where mining is happening.