After the 21 millionth Bitcoin is minted, the profitability of mining will reach $3 billion per year. By then Bitcoin will be worth $430,500. These statements were made by the CEO and Founder of PermianChain, a mining solutions provider and Broxy Equity a Bitcoin Energy company in an interview with Cointelegraph. Many have estimated that the last Bitcoin will be mined in the year 2140.
Mohamed El Masri, highlighted that efficiency of Bitcoin mining is a very important and new players in the space must take into consideration. Bitcoin mining profit depends on how efficient a mining operation as it brings the cost of energy down to a minimum.
When asked about the future of the mining space, Al Masri stated that it’s not always about profit. He said, “The future of the mining sector relies on “real Bitcoin miners” who value solving blocks more than how much BTC they can convert into fiat currency.” The executive noted that these types of miners will be the leading operators in the space.
In terms of how the industry will look like once the last BTC is mined, El Masri, stated, “When the time comes, a BTC mining business can still be profitable because transaction fees will replace block rewards as a source of revenue for miners. By then, BTC would be worth $430,500 each.”
El Masri explained that transaction fees will generate almost $3 billion in a year at this price point. He noted that there are also other growth drivers to consider, including Blockchain Layer2 improvements and energy efficiency enhancements.
