Your question could be rephrased:
Will the carbon atoms on the surface of a monocrystalline drill bit, continually being used to drill through granite, ever break their bonds with their neighboring carbon atoms?
Yes:
The carbon-carbon bond has a certain energy.
The likelihod those atoms will remain in that bonded state can be estimated with the Boltzmann distribution.
http://en.wikipedia.org/wiki/Boltzmann_distribution
Even if you continually cool the drill bit and have a liquid lubricant, statistically over long enough time, one of the carbon bonds will break.