Bitcoin miners are quietly preparing for a future where their operations resemble critical infrastructure more than speculative extraction, according to Abundant Mines CEO Beau Turner. In a recent interview with TheStreet Roundtable, Turner said many of the industry's largest miners are already adjusting their strategies in anticipation of this shift.
"The biggest players in the industry are in many cases shifting their business models away from just a primary self mining business," he said.
Turner argued that this future may increasingly revolve around block space, a concept often overlooked by everyday crypto users. "You are going to probably see miners feel more like critical infrastructure businesses," he said. "We will be talking more about block space than block rewards."
As Bitcoin usage expands and final settlement becomes more important to governments, corporations and financial institutions, the space available on Bitcoin's blockchain could become the most valuable and scarce resource. Turner compared block space to strategic commodities, arguing it could eventually be viewed in a similar way to metals or energy resources that nations compete to secure.
As miners expand their scope and professionalize their operations, Turner expects fewer chaotic boom-and-bust cycles and a more predictable business environment. That shift, he said, creates opportunity for companies willing to operate at institutional standards.
"For the people who institutionalize and who professionalize, I think it is still going to be an incredibly lucrative industry for the next decade," Turner said.
The most recent Bitcoin halving took place in April 2024, cutting the block reward from 6.25 BTC to 3.125 BTC per block. The next Bitcoin halving is expected in 2028, likely around April, depending on network block times. At that point, the block reward will drop to 1.5625 BTC.