The recent ByBit hack has once again exposed the vulnerabilities of centralized exchanges. Over $44 million was drained from user accounts, a stark reminder that when you trust a third party with your Bitcoin, you’re trusting them not to get hacked, go insolvent, or rug pull. But there’s a better way—Bitcoin mining allows you to own your sats outright instead of merely having a claim on them.

'Sats Owned' vs. 'Sats Owed'

There’s a fundamental difference between earning Bitcoin through mining and acquiring it through an exchange. When you mine Bitcoin, you generate fresh, on-chain BTC that is fully under your control. Those sats are yours, with no counterparty risk, no third-party custodian, and no withdrawal limits.

When you buy Bitcoin on an exchange, however, you don’t actually own it until you withdraw it to self-custody. Until then, what you have is a promise—a liability on the exchange’s books. If they fail, get hacked, or delay withdrawals, you’re left holding nothing but a claim.

ByBit’s recent hack proves this risk is real. Users who thought they owned Bitcoin instead found themselves waiting to see if the exchange could recover lost funds. Bitcoin mining, on the other hand, removes this uncertainty and puts full ownership in your hands from day one.

Even Hackers Prefer Bitcoin!

Another key takeaway from the ByBit hack? The attackers didn’t keep their stolen funds in Ethereum—they converted them into Bitcoin!

That’s incredibly bullish. Even the people exploiting the system recognize Bitcoin as the superior asset. They’re not running to hold ETH, SOL, or any other token. They’re fleeing to Bitcoin because it’s the hardest money with the deepest liquidity and best security. While the hackers’ methods are reprehensible, their asset preference speaks volumes about which currency holds real value in the long run.

The Exchange Problem: Trust vs. Verify

ByBit’s failure is just another chapter in a long book of exchange blowups. We’ve seen it with Mt. Gox, FTX, QuadrigaCX, and countless others. The problem is structural—centralized exchanges operate as custodians, meaning you don’t actually own your Bitcoin when it’s sitting on their platform. You own an IOU.

Bitcoin itself, however, operates trustlessly. The network doesn’t ask for permission, doesn’t need intermediaries, and doesn’t require trust. If you hold your own private keys, no one can freeze, steal, or restrict access to your sats.

Mining takes this a step further by allowing you to acquire Bitcoin without ever needing to interact with an exchange. You earn non-KYC, freshly minted BTC, fully controlled by you from the moment it lands in your wallet. No counterparty risk, no hacks, no waiting on a support ticket to get access to your own funds.

Mining: The Path to True Ownership

The lesson from ByBit’s failure is clear: if you don’t hold your own keys, you don’t own your Bitcoin. Mining is the ultimate way to secure true ownership. By participating in the network directly, you acquire Bitcoin at the protocol level—no exchange, no middleman, just pure sovereignty.

In a world where even hackers prefer Bitcoin over everything else, why leave your sats in the hands of a third party?

Take control. Mine your Bitcoin. Own your wealth. 👉 Explore our mining rigs today!