Global Cryptocurrency Mining Market - Industry Trends and Forecast to 2029
- Published Date: 2022-12-31
- Report ID: 143898
- Pages: 225
-
Format:
Short Description
Global Cryptocurrency Mining Market By Mining Enterprise (Large Miners and Small Miners), Revenue Source (Transaction Fees and Block Rewards), Mining Type (Self-Mining, Cloud Mining Services, Remote Hosting Services), Hardware (ASIC, GPU, CPU, and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Definition
The cryptocurrency mining is a mechanism by which Bitcoin and several other cryptocurrencies generate new coins and validate new transactions. It entails the use of huge, decentralised networks of computers all over the world to verify and safeguard blockchains, which are virtual ledgers that record bitcoin transactions. Computers in the network are rewarded with new coins in exchange for contributing their processing power. It is a virtuous circle where miners secure and maintain the blockchain, in return, the blockchain rewards coins and the coins provide an incentive for the miners to maintain the blockchain.
A cryptocurrency is a tradable digital asset or digital form of money that is exclusively available online and is built on blockchain technology. Cryptocurrencies, as the name implies, use encryption to authenticate and protect transactions. There are over a thousand distinct cryptocurrencies on the market right now.
Market Segmentation
The cryptocurrency mining market is segmented into four notable segments which are based on the mining enterprise, revenue source, mining type and hardware.
Based on the mining enterprise, the cryptocurrency mining market is segmented into large miners and small miners
Based on revenue source, the cryptocurrency mining market is segmented into transaction fees and block rewards
Based on mining type, the cryptocurrency mining market is segmented into self-mining, cloud mining services, and remote hosting services
Based on hardware, the cryptocurrency mining market is segmented into ASIC, GPU, CPU, and others
Market Players
Some of the major players operating in the cryptocurrency mining market are:
Canaan Inc.
Argo Blockchain
HIVE Blockchain Technologies Ltd.
Bit Digital, Inc.
Riot Blockchain, Inc.
ViaBTC
Braiins Systems s.r.o.
F2Pool
Genesis Mining Ltd.
BITMAIN Technologies Holding Company
Hut 8 Mining Corp.
Miningstore.com
MININGSKY (a subsidiary of Skychain Technologies Inc.)
iMining Technologies Inc.
MinerGate
ASICminer Company
INNOSILICON Technology Ltd.
Shenzhen MicroBT Electronics Technology Co., Ltd
GMO Internet
Core Scientific
TABLE OF CONTENTS
1 INTRODUCTION 19
1.1 OBJECTIVES OF THE STUDY 19
1.2 MARKET DEFINITION 19
1.3 OVERVIEW OF GLOBAL CRYPTOCURRENCY MINING MARKET 19
1.4 CURRENCY AND PRICING 21
1.5 LIMITATIONS 21
1.6 MARKETS COVERED 21
2 MARKET SEGMENTATION 23
2.1 MARKETS COVERED 23
2.2 GEOGRAPHICAL SCOPE 24
2.3 YEARS CONSIDERED FOR THE STUDY 25
2.4 DBMR TRIPOD DATA VALIDATION MODEL 26
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 29
2.6 DBMR MARKET POSITION GRID 30
2.7 VENDOR SHARE ANALYSIS 32
2.8 THE MARKET CHALLENGE MATRIX 33
2.9 MULTIVARIATE MODELING 34
2.10 MINING ENTERPRISE TIMELINE CURVE 34
2.11 SECONDARY SOURCES 35
2.12 ASSUMPTIONS 35
3 EXECUTIVE SUMMARY 36
4 PREMIUM INSIGHTS 38
4.1 CRYPTOCURRENCY MINING ANALYSIS 41
4.2 BITMAIN ANTMINER S9 41
4.3 IN THE U.S., THE AVERAGE ELECTRICITY COST IS AROUND USD 0.11 CENTS PER KILOWATT-HOUR. 41
5 REGIONAL SUMMARY 42
6 MARKET OVERVIEW 43
6.1 DRIVERS 45
6.1.1 RISE IN THE POPULARITY OF MINING POOLS 45
6.1.2 INCREASING ADOPTION OF CRYPTOCURRENCY IN THE FINANCIAL MARKET 45
6.1.3 INCREASING DEMAND FOR CRYPTOCURRENCY-SPECIFIC HARDWARE 45
6.1.4 INCREASING PENETRATION OF THE INTERNET AND SMARTPHONES 46
6.2 RESTRAINTS 46
6.2.1 HIGH TRANSACTION FEES 46
6.2.2 BAN OF CRYPTOCURRENCY MINING 47
6.3 OPPORTUNITIES 47
6.3.1 INCREASE IN VARIOUS STRATEGIC DECISIONS SUCH AS PARTNERSHIP AND ACQUISITION 47
6.3.2 DEVELOPMENTS IN THE HARDWARE AND SOFTWARE 48
6.4 CHALLENGES 48
6.4.1 ENVIRONMENTAL IMPACT OF CRYPTOCURRENCY MINING 48
6.4.2 MISUSE OF VIRTUAL CURRENCY AND SECURITY ATTACK 49
7 IMPACT ANALYSIS OF COVID-19 ON GLOBAL CRYPTOCURRENCY MINING MARKET 50
7.1 ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET 50
7.2 STRATEGIC DECISION BY MANUFACTURERS AFTER COVID-19 50
7.3 IMPACT ON DEMAND 50
7.4 IMPACT ON PRICE 51
7.5 IMPACT ON SUPPLY CHAIN 51
7.6 CONCLUSION 51
8 GLOBAL CRYPTOCURRENCY MINING MARKET, BY MINING ENTERPRISE 52
8.1 OVERVIEW 53
8.2 LARGE MINERS 54
8.3 SMALL MINERS 55
9 GLOBAL CRYPTOCURRENCY MINING MARKET, BY REVENUE SOURCE 56
9.1 OVERVIEW 57
9.2 BLOCK REWARDS 58
9.3 TRANSACTION FEES 59
10 GLOBAL CRYPTOCURRENCY MINING MARKET, BY MINING TYPE 60
10.1 OVERVIEW 61
10.2 REMOTE HOSTING SERVICES 62
10.3 CLOUD MINING SERVICES 62
10.4 SELF-MINING 63
11 GLOBAL CRYPTOCURRENCY MINING MARKET, BY HARDWARE 64
11.1 OVERVIEW 65
11.2 ASIC 66
11.3 GPU 66
11.4 CPU 67
11.5 OTHER 68
12 GLOBAL CRYPTOCURRENCY MINING MARKET, BY REGION 69
12.1 OVERVIEW 70
12.2 NORTH AMERICA 75
12.2.1 U.S. 80
12.2.2 CANADA 81
12.2.3 MEXICO 82
12.3 EUROPE 83
12.3.1 GERMANY 88
12.3.2 U.K. 89
12.3.3 FRANCE 90
12.3.4 RUSSIA 91
12.3.5 SWITZERLAND 92
12.3.6 NETHERLANDS 93
12.3.7 TURKEY 94
12.3.8 SPAIN 95
12.3.9 ITALY 96
12.3.10 BELGIUM 97
12.3.11 REST OF EUROPE 98
12.4 ASIA-PACIFIC 99
12.4.1 CHINA 104
12.4.2 AUSTRALIA 105
12.4.3 JAPAN 106
12.4.4 SOUTH KOREA 107
12.4.5 SINGAPORE 108
12.4.6 INDIA 109
12.4.7 THAILAND 110
12.4.8 MALAYSIA 111
12.4.9 PHILIPPINES 112
12.4.10 INDONESIA 113
12.4.11 REST OF ASIA-PACIFIC 114
12.5 MIDDLE EAST & AFRICA 115
12.5.1 SAUDI ARABIA 120
12.5.2 U.A.E. 121
12.5.3 SOUTH AFRICA 122
12.5.4 ISRAEL 123
12.5.5 EGYPT 124
12.5.6 REST OF MIDDLE EAST & AFRICA 125
12.6 SOUTH AMERICA 126
12.6.1 BRAZIL 131
12.6.2 ARGENTINA 132
12.6.3 REST OF SOUTH AMERICA 133
13 GLOBAL CRYPTOCURRENCY MINING MARKET:COMPANY LANDSCAPE 134
13.1 COMPANY SHARE ANALYSIS: GLOBAL 134
13.2 COMPANY SHARE ANALYSIS: NORTH AMERICA 135
13.3 COMPANY SHARE ANALYSIS: EUROPE 136
13.4 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 137
14 SWOT ANALYSIS 138
15 COMPANY PROFILE 139
15.1 CANAAN INC. 139
15.1.1 COMPANY SNAPSHOT 139
15.1.2 REVENUE ANALYSIS 139
15.1.3 COMPANY SHARE ANALYSIS 140
15.1.4 PRODUCT PORTFOLIO 140
15.1.5 RECENT DEVELOPMENTS 141
15.2 ARGO BLOCKCHAIN 142
15.2.1 COMPANY SNAPSHOT 142
15.2.2 REVENUE ANALYSIS 142
15.2.3 COMPANY SHARE ANALYSIS 143
15.2.4 PRODUCT PORTFOLIO 143
15.2.5 RECENT DEVELOPMENTS 143
15.3 HIVE BLOCKCHAIN TECHNOLOGIES LTD. 144
15.3.1 COMPANY SNAPSHOT 144
15.3.2 REVENUE ANALYSIS 144
15.3.3 COMPANY SHARE ANALYSIS 145
15.3.4 PRODUCT PORTFOLIO 145
15.3.5 RECENT DEVELOPMENTS 146
15.4 BIT DIGITAL, INC. 147
15.4.1 COMPANY SNAPSHOT 147
15.4.2 REVENUE ANALYSIS 147
15.4.3 COMPANY SHARE ANALYSIS 148
15.4.4 PRODUCT PORTFOLIO 148
15.4.5 RECENT DEVELOPMENTS 148
15.5 RIOT BLOCKCHAIN, INC. 149
15.5.1 COMPANY SNAPSHOT 149
15.5.2 REVENUE ANALYSIS 149
15.5.3 COMPANY SHARE ANALYSIS 150
15.5.4 SERVICE PORTFOLIO 150
15.5.5 RECENT DEVELOPMENTS 150
15.6 ASICMINER COMPANY 151
15.6.1 COMPANY SNAPSHOT 151
15.6.2 PRODUCT PORTFOLIO 151
15.6.3 RECENT DEVELOPMENT 151
15.7 BRAIINS SYSTEMS S.R.O. 152
15.7.1 COMPANY SNAPSHOT 152
15.7.2 PRODUCT PORTFOLIO 152
15.7.3 RECENT DEVELOPMENTS 152
15.8 BITMAIN TECHNOLOGIES HOLDING COMPANY 153
15.8.1 COMPANY SNAPSHOT 153
15.8.2 PRODUCT PORTFOLIO 153
15.8.3 RECENT DEVELOPMENTS 154
15.9 CORE SCIENTIFIC, INC., INC., INC. 155
15.9.1 COMPANY SNAPSHOT 155
15.9.2 PRODUCT PORTFOLIO 155
15.9.3 RECENT DEVELOPMENTS 156
15.10 F2POOL 157
15.10.1 COMPANY SNAPSHOT 157
15.10.2 PRODUCT PORTFOLIO 157
15.10.3 RECENT DEVELOPMENT 157
15.11 GENESIS MINING LTD 158
15.11.1 COMPANY SNAPSHOT 158
15.11.2 PRODUCT PORTFOLIO 158
15.11.3 RECENT DEVELOPMENT 158
15.12 GMO INTERNET, INC., INC., INC. 159
15.12.1 COMPANY SNAPSHOT 159
15.12.2 REVENUE ANALYSIS 159
15.12.3 SERVICE PORTFOLIO 160
15.12.4 RECENT DEVELOPMENTS 160
15.13 HUT 8 MINING CORP. 161
15.13.1 COMPANY SNAPSHOT 161
15.13.2 REVENUE ANALYSIS 161
15.13.3 SERVICE PORTFOLIO 162
15.13.4 RECENT DEVELOPMENTS 162
15.14 IMINING TECHNOLOGIES INC. 163
15.14.1 COMPANY SNAPSHOT 163
15.14.2 SERVICE PORTFOLIO 163
15.14.3 RECENT DEVELOPMENTS 164
15.15 INNOSILICON TECHNOLOGY LTD. 165
15.15.1 COMPANY SNAPSHOT 165
15.15.2 PRODUCT PORTFOLIO 165
15.15.3 RECENT DEVELOPMENT 165
15.16 MINERGATE 166
15.16.1 COMPANY SNAPSHOT 166
15.16.2 PRODUCT PORTFOLIO 166
15.16.3 RECENT DEVELOPMENT 166
15.17 MININGSKY (A SUBSIDIARY OF SKYCHAIN TECHNOLOGIES INC.) 167
15.17.1 COMPANY SNAPSHOT 167
15.17.2 REVENUE ANALYSIS 167
15.17.3 PRODUCT PORTFOLIO 168
15.17.4 RECENT DEVELOPMENT 168
15.18 MININGSTORE.COM 169
15.18.1 COMPANY SNAPSHOT 169
15.18.2 PRODUCT PORTFOLIO 169
15.18.3 RECENT DEVELOPMENT 170
15.19 SHENZHEN MICROBT ELECTRONICS TECHNOLOGY CO., LTD 171
15.19.1 COMPANY SNAPSHOT 171
15.19.2 PRODUCT PORTFOLIO 171
15.19.3 RECENT DEVELOPMENT 171
15.20 VIABTC 172
15.20.1 COMPANY SNAPSHOT 172
15.20.2 PRODUCT PORTFOLIO 172
15.20.3 RECENT DEVELOPMENTS 173
16 QUESTIONNAIRE 174
17 RELATED REPORTS 177
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