Many from the states will quit, but there are still countries like China who is and will keep profiting from mining for a long while.
My question is, what would happen when mining eventually stops? What would become of BitCoin? Would it still be functional? I don't fully understand how this works.
If mining stopped completely there would be no bitcoin. Bitcoin is the mining. But even one person on a cpu could continue to mine. And my guess is that even if bitcoin fails completely, there will be a few people that keep mining for the next few decades.
I mean, I know people who's tamagotchi is still alive.