I think crypto mining is dying. First, profitability is dropping. Bitcoin's network hash rate recently hit 650 EH/s, but profitability has dropped 62% since 2023. Difficulty adjusts faster than hardware can keep up, making mining less and less profitable. However, electricity costs are the real killer. For example, at $0.03/kWh, a 198 TH/s S21 earns about $21 per day. But once electricity costs more than $0.09/kWh, then you lose money. This reduces accessibility since mining is now only profitable with specialized hardware in places with low electricity cost. Along with that, hardware is constantly being replaced to keep up with the increasing difficulty. The average ASIC lifespan is 18-24 months before it's no longer profitable, compared to a 3-4 year lifespan in 2020. Newer models are more efficient, but have a shorter lifespan. In fact, about 1.2 million ASICS were decommissioned in 2025 alone, with most ending up in landfills. Some countries are also banning mining, leading to a huge decline. For example, when China banned mining in 2021 almost 20% of the global hash rate vanished. The EU and Kazakhstan are also enforcing taxes on mining, reducing profits for miners and making it less popular. The decrease in mining has lead to an upswing in Mining-as-a-Service (MaaS). Instead of owning hardware, some miners are switching to MaaS platforms where you pay per hash, without the stress of owning an actual machine. Of course, it's not as profitable as using your own machines since the platforms take some profit, but it's a great solution to the accessibility issue.

So, while the struggles of the crypto mining industry have led to some good solutions, there is no way to stop profitability dropping and popularity decreasing. Personally, I think mining is becoming obsolete and will soon be a relic of the past.