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The Death of Commercial Bitcoin Mining?
Pulse of the market
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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.
