The cryptocurrency mining equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cryptocurrency Mining Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cryptocurrency mining equipment market size has grown strongly in recent years. It will grow from <b>$4.73 billion in 2023 to $5.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. </b> The growth in the historic period can be attributed to shift in mining pools, global regulatory environment, bitcoin difficulty adjustments, community consensus and forks, rise and fall of gpu mining.
The cryptocurrency mining equipment market size is expected to see strong growth in the next few years. It will grow to <b>$6.15 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. </b> The growth in the forecast period can be attributed to cryptocurrency price volatility, energy efficiency and sustainability, global electricity costs, institutional interest and mining operations, supply chain disruptions. Major trends in the forecast period include bitcoin halving events, evolving cryptocurrency landscape, rise in cryptocurrency prices, transition to proof-of-stake (pos), global regulatory environment.
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Scope Of Cryptocurrency Mining Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cryptocurrency Mining Equipment Market Overview
Market Drivers –
The growing market capitalization of cryptocurrencies is expected to propel the growth of the cryptocurrency mining equipment market growing forward. Market capitalization, in the cryptocurrency market, is a technique to evaluate the size and popularity of cryptocurrencies and informs the current market worth of cryptocurrencies. Market capitalization helps cryptocurrency mining equipment by allowing investors to understand the true value of companies and the size of one company in relation to another. For instance, in October 2021, according to a report published by the International Monetary Fund (IMF), a US-based financial agency of the United Nations, the entire market value of all crypto assets including market capitalization had surpassed $2 trillion, a 10-fold rise from 2020. Therefore, the growth in the market capitalization of cryptocurrencies is driving the cryptocurrency mining equipment market.
Market Trends –
Product innovation has emerged as a key trend gaining popularity in the cryptocurrency mining equipment market. Major companies operating in the cryptocurrency mining equipment market are focused on innovating new products with advanced technologies to sustain their position in the market. For instance, in February 2021, Nvidia Corporation, a US-based leader in artificial intelligence computing operating in the cryptocurrency mining equipment market, launched the cryptocurrency mining processor (CMP), a line of products for professional cryptocurrency mining. The unique features of CMP including no display output, and a lower peak core voltage and frequency, increase the efficiency of the mining power and helps miners build the most efficient data centers. By using CMPs miners can build the most efficient data centers while preserving GeForce RTX GPUs for gamers.
The cryptocurrency mining equipment market covered in this report is segmented –
1) By Equipment: Graphics Processing Units (GPUs), Field Programmable Gate Arrays (FPGAs), Application-Specific Integrated Circuits (ASICs), PC Or CPU Mining
2) By Coin: Bitcoin, Ripple, Ethereum
3) By Application: Remote Hosting Services, Cloud Mining, Self Mining
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Regional Insights –
Asia-Pacific was the largest region in the cryptocurrency mining equipment market in 2023. The regions covered in the cryptocurrency mining equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cryptocurrency mining equipment market report are Advanced Micro Devices Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co. Ltd., NVIDIA Graphics Pvt. Ltd., Bitmain Technologies Ltd., Taiwan Semiconductor Manufacturing Company, Canaan Creative Co. Ltd., Bitfury, Samsung Group, SBI Holdings, GlobalFoundries, United Microelectronics Corporation (UMC), Bitfarms Ltd., Intel Corporation, Northern Data AG, DMG Blockchain Solutions Inc., Holicity Inc., Greenidge Generation Holdings Inc., Digihost Technology Inc., CleanSpark Inc., Bit Digital Inc., Core Scientific Holding Co., Stronghold Digital Mining Inc., Bit5ive LLC, Blockcap Inc., Foundry Digital LLC, Luxor Technologies Inc., Compute North LLC, Gryphon Digital Mining Inc., BitRiver AG, Compass Mining Inc.
Table of Contents
1. Executive Summary
2. Cryptocurrency Mining Equipment Market Report Structure
3. Cryptocurrency Mining Equipment Market Trends And Strategies
4. Cryptocurrency Mining Equipment Market – Macro Economic Scenario
5. Cryptocurrency Mining Equipment Market Size And Growth
…..
27. Cryptocurrency Mining Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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