The Death of Commercial Bitcoin Mining?

[nihalsari]

Bit Digital CEO Sam Tabar believes the commercial Bitcoin mining industry is doomed within 2 years.

Why?

The next halving in 2028 will slash miner revenues again.

Sovereign nations like Bhutan ($1.4B mined) and Ethiopia (5% of global hashrate) mine at ~$20k/BTC using hydro surplus.

Commercial miners face >$100k/BTC costs.

As sovereigns step in with free or state-subsidized energy, Tabar argues:

“No private mining company can survive the next halving.”

The shift could make Bitcoin mining a sovereign game — with states securing the network, not companies.