MARA CEO: Bitcoin mining companies must control electricity resources, or they will be eliminated before the next halving.

Fred Thiel, CEO of MARA Holdings, stated that the Bitcoin mining industry is entering a difficult period, characterized by increased competition, rising energy demands, and shrinking profits. He explained that Bitcoin mining is a zero-sum game; increased computing power raises mining difficulty and energy costs, squeezing profit margins. The industry is becoming increasingly brutal, and only mining companies with access to low-cost, reliable energy or adopting new business models will survive. Many mining companies are shifting towards artificial intelligence or high-performance computing infrastructure, while others are being squeezed out of the market by participants who can deploy their own hardware at lower costs.