CEO of Bit Digital: Bitcoin Mining Industry Will Disappear Within Two Years

Bit Digital CEO Sam Tabar made a sensational statement about the future of bitcoin mining. According to him, the industry of mining the first cryptocurrency in its usual format may cease to exist in just two years.

Tabar explained that the key threat will be the upcoming halving, which will significantly reduce miners’ rewards. In the context of rising costs for electricity and equipment, this will lead to a decline in profitability. “The next halving will be the death knell for mining as we know it,” noted the head of Bit Digital.

Another factor he mentioned was the possible strengthening of the role of states. According to Tabar, if countries with access to cheap or subsidized electricity start mining bitcoin on a large scale, private companies will find themselves in non-competitive conditions.

“States will be able to mine BTC almost for free, and competing with them will be impossible,” he emphasized.

Considering these risks, Bit Digital has proactively changed its strategy. The company officially ceased its mining activities on June 25, 2025, and focused on managing digital assets, including staking and infrastructure in the Ethereum ecosystem.

According to analysts, Bit Digital’s move reflects a broader trend: many mining firms are seeking new business models amid declining revenues and increasing competition.

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