Cryptocurrency Mining Equipment Market (2021 to 2027) – Growth, Trends, Opportunities, and Forecasts

The Cryptocurrency Mining Equipment Market was valued at US$ 14.4 Bn. in 2021. The Global Cryptocurrency Mining Equipment Market is estimated to grow at a CAGR of 2.5 % over the forecast period.

Cryptocurrency Mining Equipment Market Overview:

An effective cryptocurrency mining operation involves the use of specialized computers, called nodes or mining rigs, to verify blockchain transactions associated with the coin and, in turn, receive a reward for their work. The Cryptocurrency Mining Equipment market analyzes and forecasts the market size, in terms of value, for the market. Further, the Cryptocurrency Mining Equipment Market is segmented by Product, Application, and Region. Based on Product, the Cryptocurrency Mining Equipment market is segmented under ASICs, GPUs, and FPGAs. Based on the Application, the market is segmented under Remote Hosting Services, Cloud Mining, and Self-mining. The market sizing and forecasts have been done for each segment based on value (in USD Billion). Cryptocurrency Mining Equipment Market To know about the Research Methodology :- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2027. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.

Cryptocurrency Mining Equipment Market Dynamics:

Cloud mining services and remote hosting services are expected to have positive impacts on the growth of the global cryptocurrency mining equipment market during the forecast period. Global retailers are increasingly using cryptocurrency for online payments, driving the global market for cryptocurrency mining equipment. In addition, semiconductor companies are increasing their investments in mining-specific equipment, contributing to the market for cryptocurrency mining equipment. Since cryptocurrency prices fluctuate, cryptocurrency mining and investing can be quite risky. One can expect sudden highs and lows within hours, which could lead to losses for investors as well as miners. A fluctuating price structure of the cryptocurrency mining equipment market is expected to be a key factor limiting the global cryptocurrency mining equipment market over the forecast period. These factors are limiting the market growth across the globe. During the forecast period, technology advances are expected to boost the market growth by lowering power consumption and increasing hash rates while enabling more profit from cryptocurrency mining. Growth in the adoption of cryptocurrency in various fields and the resulting increase in cryptocurrency mining presents a great opportunity for cryptocurrency miners, and it is encouraging cryptocurrency miners to establish mining pools to share their computational products. To set up a crypto mining rig or farm may cost a fortune, and your electricity bill will be up when your computer is mining for long hours. This, in turn, will increase expenses. Keeping crypto mining software running requires GPUs at their maximum capacity. This decreases the overall lifespan of graphic cards, which may challenge the market growth.

Cryptocurrency Mining Equipment Market COVID-19 Insights:

As a result of the outbreak of COVID-19, the cryptocurrency mining hardware market took severe damage, mainly due to lockdowns and restrictions on the movement of both people and goods, disrupting supply chain operations. At the same time, consumer demands became limited as individuals continued to stick to their budgetary plans. As digitalization gains traction and restrictions on the free movement of goods and people are gradually relaxed, the global market is poised for recovery and potential growth.

Cryptocurrency Mining Equipment Market Segment Analysis:

Based on Product, the Cryptocurrency Mining Equipment Market is segmented into Graphics Processing Units (GPU), Field Programmable Gate Arrays (FPGAs), and Application Specific Integrated Circuits (ASICs). The Application-Specific Integrated Circuits (ASICs) segment had the highest market share in 2021, and it is expected to boost the market growth through the forecast period. This segment is primarily influenced by factors such as its high hashing power and its ability to be customized to specific altcoin operations. In contrast, GPUs, which have broader use in a variety of other industries, such as games, graphic design, and astronomy, are used mainly for general purposes. The ASICs consume far less power than GPU, which makes the hardware efficiency of ASICs superior to other mining systems on the market. However, the ASICs are only used for mining certain digital currencies, and, therefore cannot be used to mine other currencies such as Ethereum and Ethereum Classic. Cryptocurrency Mining Equipment Market Based on Application, the Cryptocurrency Mining Equipment Market is segmented into Remote Hosting Services, Cloud Mining, and Self-mining. Using cloud mining, cryptocurrencies are mined by leasing or purchasing mining equipment from a third-party cloud provider who maintains the equipment. A major benefit of cloud mining is that it reduces overall mining costs and allows everyday investors to mine cryptocurrencies without having to possess technical knowledge.

Cryptocurrency Mining Equipment Market Regional Insights:

The Asia Pacific region held the largest market share accounting for 36% in 2021. The region has a large concentration of players, especially in China, due to economies of scale. However, under unfavorable regulatory developments, cryptocurrency exchanges are expected to be banned in China, delaying the growth of the market in the region. The North American is expected to witness significant growth during the forecast period. It is expected that increasing cryptocurrency adoption in developed regions such as the U.S. and Canada will lead to increased growth in the cryptocurrency market in the coming years, which will stimulate demand for cryptocurrency mining equipment in this region.

Recent Development in Cryptocurrency Mining Equipment Market:

• On 5 May 2022, a Marathon mining firm reported a net income loss of $13 million in Q1 2022. • On 20 May 2022, it was recently confirmed that the crypto mining limiter for most Nvidia RTX 30 cards has already been unlocked, but now the last two remaining models are also unlocked at 50% mining performance. • On 20 May 2022, The company that introduced 100% crypto mining for Nvidia GPUs revealed that its software could use LHRv3 (Light Hash Rate version 3) boards to unlock 90% mining performance. The objective of the report is to present a comprehensive analysis of the global Cryptocurrency Mining Equipment Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers. The reports also help in understanding the Cryptocurrency Mining Equipment Market dynamic and structure by analyzing the market segments and projecting the Cryptocurrency Mining Equipment Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Cryptocurrency Mining Equipment Market make the report investor’s guide.

Cryptocurrency Mining Equipment Market Scope: Inquire before buying

Global Cryptocurrency Mining Equipment Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 14.4 Bn.
Forecast Period 2022 to 2027 CAGR: 2.5% Market Size in 2027: US $ 16.7 Bn.
Segments Covered: by Product • ASICs • GPUs • FPGAs
by Application • Remote Hosting Services • Cloud Mining • Self-mining

Cryptocurrency Mining Equipment Market by Region:

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Cryptocurrency Mining Equipment Market Key Players:

Advanced Micro Devices, Inc. • Russian Miner Coin • Halong Mining • Zhejiang Ebang Communication Co., Ltd • NVIDIA Graphics Pvt. Ltd. • Bitmain Technologies Ltd • SBI Group • Bitfarms • TSMC • Canaan Creative Co. Ltd • Global Foundries • United Microelectronics Corporation Frequently Asked Questions: 1. What is the study period of the market? Ans: The Global Cryptocurrency Mining Equipment Market has been studied from 2017-to 2027. 2. What is the growth rate of the Cryptocurrency Mining Equipment Market? Ans: The Global Cryptocurrency Mining Equipment Market is growing at a CAGR of 2.5% over the forecast period. 3. Which region has the largest share in 2021 for the Global Cryptocurrency Mining Equipment Market? Ans: The Asia Pacific holds the largest share in 2021. 4. What is the Global Cryptocurrency Mining Equipment Market segment based on Product? Ans: Based on Product, The Global Cryptocurrency Mining Equipment Market is divided into ASICs, GPUs, and FPGAs. 5. Who are the key players in the Global Cryptocurrency Mining Equipment Market? Ans: Advanced Micro Devices, Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co., Ltd, NVIDIA Graphics Pvt. Ltd., Bitmain Technologies Ltd, SBI Group, Bitfarms, TSMC, Canaan Creative Co. Ltd, Global Foundries, and United Microelectronics Corporation.
1. Global Cryptocurrency Mining Equipment Market Size: Research Methodology 2. Global Cryptocurrency Mining Equipment Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Cryptocurrency Mining Equipment Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Cryptocurrency Mining Equipment Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Cryptocurrency Mining Equipment Market Size Segmentation 4.1. Global Cryptocurrency Mining Equipment Market Size by Product (2021-2027) • ASICs • GPUs • FPGAs 4.2. Global Cryptocurrency Mining Equipment Market Size, by Application (2021-2027) • Remote Hosting Services • Cloud Mining • Self-mining 5. North America Cryptocurrency Mining Equipment Market (2021-2027) 5.1. North America Cryptocurrency Mining Equipment Market Size, by Product (2021-2027) • ASICs • GPUs • FPGAs 5.2. North America Cryptocurrency Mining Equipment Market Size by Application (2021-2027) • Remote Hosting Services • Cloud Mining • Self-mining 5.3. North America Cryptocurrency Mining Equipment Market, by Country (2021-2027) • United States • Canada • Mexico 6. European Cryptocurrency Mining Equipment Market (2021-2027) 6.1. European Cryptocurrency Mining Equipment Market, by Product (2021-2027) 6.2. European Cryptocurrency Mining Equipment Market, by Application (2021-2027) 6.3. European Cryptocurrency Mining Equipment Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Cryptocurrency Mining Equipment Market (2021-2027) 7.1. Asia Pacific Cryptocurrency Mining Equipment Market, by Product (2021-2027) 7.2. Asia Pacific Cryptocurrency Mining Equipment Market, by Application (2021-2027) 7.3. Asia Pacific Cryptocurrency Mining Equipment Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Cryptocurrency Mining Equipment Market (2021-2027) 8.1. Middle East and Africa Cryptocurrency Mining Equipment Market, by Product (2021-2027) 8.2. Middle East and Africa Cryptocurrency Mining Equipment Market, by Application (2021-2027) 8.3. Middle East and Africa Cryptocurrency Mining Equipment Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Cryptocurrency Mining Equipment Market (2021-2027) 9.1. South America Cryptocurrency Mining Equipment Market, by Product (2021-2027) 9.2. South America Cryptocurrency Mining Equipment Market, by Application (2021-2027) 9.3. South America Cryptocurrency Mining Equipment Market, by Country (2021-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Advanced Micro Devices, Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Russian Miner Coin 10.3. Halong Mining 10.4. Zhejiang Ebang Communication Co.,Ltd 10.5. NVIDIA Graphics Pvt. Ltd. 10.6. Bitmain Technologies Ltd 10.7. SBI Group 10.8. Bitfarms 10.9. TSMC 10.10. Canaan Creative Co. Ltd 10.11. Global Foundries 10.12. United Microelectronics Corporation

About This Report

Report ID 148168
Category Information Technology & Telecommunication
Published Date May 2022
Updated Date
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