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Cryptocurrency Mining Hardware Market to grow by USD 9.21 billion between 2021 – 2026 | Growth Driven by Profitability of Cryptocurrency mining ventures – Technavio

NEW YORK, Sept. 17, 2023 /PRNewswire/ — The Cryptocurrency Mining Hardware Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cryptocurrency mining hardware market between 2021 and 2026 is USD 9.21 billion. The profitability of cryptocurrency mining ventures drives the cryptocurrency mining hardware market. Mining cryptocurrency is a slow and cumbersome process that is not profitable on a small scale. The adoption of cryptocurrency cloud mining is growing and in cloud-mining, customers invest in a cloud-hosted cryptocurrency mining venture, which transfers a certain share of the earned cryptocurrency to its customers. Furthermore, factors like the profitability of cryptocurrency mining ventures will lead to the entry of several small-scale cryptocurrency mining ventures that will adopt cloud mining. Hence, such factors fuel the growth of the cryptocurrency mining hardware market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

  • Market Challenge – Volatility in the value of cryptocurrency challenges the growth of the cryptocurrency mining hardware market. The value of cryptocurrency is extremely volatile, which leads to investors not including cryptocurrency in their financial portfolios. Furthermore, factors like the lack of transaction charges, position charges, trade posting fees, and regulations on trading platforms also cause volatility in the value of cryptocurrency. Hence, such challenges impede the growth of the cryptocurrency mining market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The cryptocurrency mining hardware market is segmented by Product (ASIC and GPU) and Geography (APAC, North America, Europe, South America, and Middle East and Africa). 

  • The market share growth in the ASIC segment will be significant during the forecast period. These solutions are used to process and record the transaction of cryptocurrencies efficiently. Furthermore, they are built to solve a single hash algorithm. For instance, a Bitcoin mining ASIC-based hardware solution can only mine Bitcoin. Hence, such factors fuel the growth of the ASIC segment of the cryptocurrency mining market during the forecast period.
  • 46% of the global market’s growth will originate from APAC during the forecast period.  View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Cryptocurrency Mining Hardware Market:

Advanced Micro Devices Inc., Bitfury Group Ltd., BitMain Technologies Holding Co., Bolonminer, Canaan Inc., Ebang International Holdings Inc., GMO Internet Inc., Goldshell, Helium Systems Inc., HIVE Blockchain Technologies Ltd., INNOSILICON Technology Ltd., Intel Corp., Marathon Digital Holdings Inc., NVIDIA Corp., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd, Spondoolies Ltd., Unruly Technologies Ltd.

Related Reports:

The Global Cryptocurrency Market size is estimated to grow at a CAGR of 15.81% between 2022 and 2027. The market size is forecast to increase by USD 1,815.78 million. This cryptocurrency market report extensively covers market segmentation by Type (bitcoin, Ethereum, and others), Component (hardware and software), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Rising investment in digital assets is one of the key drivers fueling the cryptocurrency market’s growth. 

The predicted growth for the cryptocurrency ATM market size from 2021 to 2026 is USD 2.37 billion at a progressing CAGR of 53.09%. This cryptocurrency ATM market forecast report extensively covers segmentations by type and geography. The increasing number of installations is notably driving the cryptocurrency ATM market growth.

Cryptocurrency Mining Hardware Market Scope

Report Coverage

Details

Base year

2021

Historic period

2017-2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.75%

Market growth 2022-2026

USD 9.21 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.67

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 46%

Key countries

US, Canada, China, Russia, and Ireland

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Advanced Micro Devices Inc., Bitfury Group Ltd., BitMain Technologies Holding Co., Bolonminer, Canaan Inc., Ebang International Holdings Inc., GMO Internet Inc., Goldshell, Helium Systems Inc., HIVE Blockchain Technologies Ltd., INNOSILICON Technology Ltd., Intel Corp., Marathon Digital Holdings Inc., NVIDIA Corp., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd, Spondoolies Ltd., and Unruly Technologies Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/cryptocurrency-mining-hardware-market-to-grow-by-usd-9-21-billion-between-2021—2026–growth-driven-by-profitability-of-cryptocurrency-mining-ventures—technavio-301929283.html
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