The Global cryptocurrency mining market Size is expected to grow from US $ 1.6 billion in 2021 To US $ 2.8 billion by 2030,so 7.5% CAGR From 2022 to 2030. Cryptocurrency mining is a mechanism by which cryptocurrencies generate new coins and validate new transactions. Over the past few years, miners have used highly sophisticated and complex machines to speed up their mining operations. As a result, companies are developing advanced mining machines for their clients. In addition, some companies work with others to provide a variety of services to their customers. As a result, as the demand for mining pools grows in the market, so does the demand for advanced mining machines. However, the associated high transaction fees can limit market growth.
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Advances in technology that make cryptocurrency mining more profitable by increasing hash rates while reducing power consumption are expected to drive market growth over the forecast period. During the forecast period, advances in technology that increase the profitability of cryptocurrency mining by increasing hash rates while reducing power consumption are expected to drive market growth. The increasing use of cryptocurrencies in various applications, followed by the increasing cryptocurrency mining, encourages cryptocurrency miners to form a mining pool for pooling computational resources on the network, both. It is expected to contribute to the growth of the market. The growing popularity of various cryptocurrencies that drive the demand for crypto-specific hardware is expected to play an important role in driving market growth. Continued digitization, smartphone spikes, and increased internet penetration are some of the other factors that herald market growth during the forecast period.
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Scope of the global cryptocurrency mining market
This study categorizes the cryptocurrency mining market based on mining enterprise, revenue sources, hardware, applications, and regions...
Mining Enterprise Outlook
- Large miner
- Small miner
Revenue source outlook
- Block reward
- Transaction fees
Hardware outlook
By application outlook
- Remote hosting service
- Cloud mining service
- Self mining
Regional outlook
- North America
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- Slovenia
- Slovakia
- Netherlands
- Belgium
- Norway
- Denmark
- Czech Republic
- Sweden
- Other Europe
- Asia Pacific
- China
- Japan
- India
- Korea
- Indonesia
- Malaysia
- Thailand
- Vietnam
- Philippines
- Singapore
- Australia and New Zealand
- Other Asia Pacific
- south america
- Brazil
- Argentina
- Columbia
- The rest of South America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- North Africa
- The rest of the MEA
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Asia Pacific Occupy the highest CAGR during the forecast period
Based on region, the global cryptocurrency mining market is divided across North America and Asia– –Pacific, Europe, South America, and Middle East and Africa.. Globally, the Asia Pacific region is estimated to hold the highest CAGR in the global cryptocurrency mining market during the forecast period... This region includes China, India, Japan, South Korea, Australia, Southeast Asia and other Asian countries.– –Pacific.. Growth in the region is largely due to strong economic growth in emerging economies such as China, Indonesia, Malaysia and India...
China dominates the Asia Pacific region due to the presence of key players such as Canaan Inc. and Shenzhen Microbt Electronics Technology Co. Ltd. Germany leads the European region in the adoption of cryptocurrencies, and Bitcoin and Ethereum buy goods that are widely used in e-commerce. Cryptocurrencies are regularly transferred and traded in Germany, and companies are investing in new digital currencies.
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Major market players
The major players in the global cryptocurrency mining market:
- Canaan Inc.
- HIVE Blockchain Technologies Ltd.
- Argo blockchain
- ViaBTC
- Braiins Systems sro
- F2Pool
- Bit Digital Co., Ltd.
- Riot Blockchain, Inc.
- Genesis Mining Ltd.
- BITMAIN Technologies Holding Company
- Hat 8 Mining Corporation.
- iMining Technologies Inc.
- MinerGate
- ASICminer Company
- Mining store
- Mining skis
- INNOSILICON Technology Ltd.
- Shenzhen MicroBT Electronics Technology Co., Ltd.
- GMO Internet
- Core Scientific
