Global Cryptocurrency Mining Market

Global Cryptocurrency Mining Market Size, Share, Growth Analysis, By Type(ASICs, GPUs), By Application(Remote Hosting Services, Cloud Mining) - Industry Forecast 2024-2031


Report ID: SQMIG40D2017 | Region: Global | Published Date: April, 2024
Pages: 207 | Tables: 63 | Figures: 75

Global Cryptocurrency Mining Market Competitive Landscape

Large-scale institutional companies and small-scale independent miners coexist in the competitive environment of the global cryptocurrency mining business, each striving for a piece of the substantial profits provided by blockchain networks. The mining industry has greatly changed since it was a passionate pastime and is now a sophisticated and cutthroat business.

At one end of the range, well-known mining firms like Bitmain (China), MicroBT (China), and Canaan Creative (China) have made a name for themselves as important hardware producers, dominating the market with their high-performance ASIC miners. These businesses have a lot of sway since they manage many mining pools and provide mining equipment to miners all around the world. They are able to keep a competitive advantage because to their vast resources and technological expertise.

Top Player’s Company Profiles

  • Bitmain (China)
  • MicroBT (China)
  • Canaan Creative (China)
  • Bitfury (Netherlands)
  • Ebang International Holdings (China)
  • Riot Blockchain (United States)
  • Marathon Digital Holdings (United States)
  • Layer1 (United States)
  • Hut 8 Mining Corp. (Canada)
  • Northern Data AG (Germany)
  • Argo Blockchain (United Kingdom)
  • Genesis Digital Assets (United States)
  • Riot Blockchain (United States)
  • Bit Digital (United States)
  • DMG Blockchain Solutions (Canada)
  • Slush Pool (Czech Republic)
  • F2Pool (China)
  • Poolin (China)
  • Binance Pool (Global, headquarters in Malta)
  • ViaBTC (China)

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FAQs

Global Cryptocurrency Mining Market size was valued at USD 2 billion in 2022 and is poised to grow from USD 2.24 billion in 2023 to USD 5.55 billion by 2031, growing at a CAGR of 12% in the forecast period (2024-2031).

Large-scale institutional companies and small-scale independent miners coexist in the competitive environment of the global cryptocurrency mining business, each striving for a piece of the substantial profits provided by blockchain networks. The mining industry has greatly changed since it was a passionate pastime and is now a sophisticated and cutthroat business. 'Bitmain (China)', 'MicroBT (China)', 'Canaan Creative (China)', 'Bitfury (Netherlands)', 'Ebang International Holdings (China)', 'Riot Blockchain (United States)', 'Marathon Digital Holdings (United States)', 'Layer1 (United States)', 'Hut 8 Mining Corp. (Canada)', 'Northern Data AG (Germany)', 'Argo Blockchain (United Kingdom)', 'Genesis Digital Assets (United States)', 'Riot Blockchain (United States)', 'Bit Digital (United States)', 'DMG Blockchain Solutions (Canada)', 'Slush Pool (Czech Republic)', 'F2Pool (China)', 'Poolin (China)', 'Binance Pool (Global, headquarters in Malta)', 'ViaBTC (China)'

The need for mining operations is driven through the growing recognition and utilization of cryptocurrencies, which includes Bitcoin and Ethereum, as humans and institutions want to shop for these virtual properties.

De-centralization Efforts: Decentralization is becoming increasingly more vital within the mining industry if you want to limit the effect of big mining pools and beef up the community's resistance to centralization.

The United States and Canada have been main participants in cryptocurrency mining in North America. Due to their proximity to abundant power resources, reasonably strong regulatory settings, and sturdy technological infrastructure, these regions have drawn widespread investments in mining infrastructure. Additionally, with businesses and funding organizations getting into the marketplace, institutional hobby in cryptocurrency mining has grown in North America.

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Global Cryptocurrency Mining Market

Product ID: SQMIG40D2017

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