Global Cryptocurrency Mining Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. Bitcoin and numerous other cryptocurrencies use cryptocurrency mining to create new coins and validate new transactions. The increasing merger and acquisition by the key market player has led the adoption of Cryptocurrency Mining across the forecast period. For Instance: in January 2022, Hut 8 Mining Corp. announced the acquisition of TeraGo Inc.’s cloud and co-location data centre business. The deal includes five data centres in Canada, as well as a full suite of scalable cloud services. As a result, the company will be able to develop its business and consumer base in the market. Also, the market is seeing an increase in demand for mining pools, as well as improved mining machines, the adoption & demand for Cryptocurrency Mining is likely to increase the market growth during the forecast period. However, the high transaction fees associated with it may limit the market’s expansion over the forecast period of 2022-2028.
The key regions considered for the global Cryptocurrency Mining market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Because of increased usage from payment systems like PayPal, the United States dominates the North American area. This will provide considerably more individuals simple access to cryptocurrencies. During the projection period, cryptocurrency usage in main applications is expected to fuel market growth. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2028. Due to the presence of significant key players such as Canaan Inc. and Shenzhen Microbt Electronics Technology Co. Ltd. in the Asia-Pacific region would create lucrative growth prospects for the Cryptocurrency Mining market across Asia-Pacific region.
Major market player included in this report are:
HIVE Blockchain Technologies Ltd.
Bit Digital, Inc.
Riot Blockchain, Inc.
Braiins Systems s.r.o.
Genesis Mining Ltd.
BITMAIN Technologies Holding Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Mining Enterprise:
By Revenue Source:
By Mining Type:
Cloud Mining Services
Remote Hosting Services
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Cryptocurrency Mining Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers