To further help your argument, $34 is most likely not going to happen. Even with the recent increase in value of the past few weeks, my own bitminer is looking at mid $20s. I also have fairly cheap electricity.

Most miners at the time of this posting are selling for about $3000. I know this because I currently am selling mine for that price.

I think the overall profitability is really gonna decrease in the coming months. The more antminers Bitmain churns out, the less of the pie you get.

I see the antminer no longer being profitable within the next 12 months. The time could come sooner if Bitcoin drops in value...