Cryptocurrency

Cryptocurrency Mining Market [NEWS TODAYS] 2022 Projections and Future Opportunities Recorded for the Period 2030

Quadintel published a new report on the Cryptocurrency Mining Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.

The global cryptocurrency mining market size was US$ 1.49 billion in 2021. The global cryptocurrency mining market is forecast to grow to US$ 2.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

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Factors Influencing the Market

Cryptocurrency mining is the process by which cryptocurrencies generate new coins. Miners have become very sophisticated in recent years by deploying advanced machinery to speed up mining operations. Recognizing the potential scope of this, businesses are creating advanced mining machines for the end-users. Thus, the growing technological advancements in the cryptocurrency mining industry will fuel the growth of the market. Rising demand for decreasing power consumption while increasing the hash rates will benefit the cryptocurrency mining market. In addition to that, the rising use of cryptocurrency for a variety of applications and growing interest in cryptocurrency mining will escalate market growth.

The global cryptocurrency market may also witness potential opportunities due to growing digitalization and the rising proliferation of smartphones. Rapidly soaring internet penetration will also benefit the market. In addition, various individual users select crypto asset management solutions, which will bring momentum in the growth of the crypto asset management market and make it more appealing for crypto asset management providers. Thus, it will surge the growth of the cryptocurrency mining market during the forecast period.

COVID-19 Impact Analysis

The global cryptocurrency mining market witnessed several disruptions, and the primary one is the change in consumer preferences. The initial panic due to the wake of the pandemic affected the traditional market for cryptocurrency. In addition, the halt on technological advancements further hampered the growth of the global cryptocurrency mining market.

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Regional Analysis

Based on the regions, the Asia-Pacific cryptocurrency mining market is forecast to emerge as the largest market. Globally, Asia-Pacific is holding the highest industry share due to the strong economic growth of the region. Furthermore, the presence of prominent players such as Canaan Inc., Shenzhen Microbt Electronics Technology Co. Ltd., etc., will fuel the growth of this regional market during the study period. Additionally, the market is witnessing the surging adoption of smartphones and the internet, which will contribute to the industry growth during the study period. The market will also gain momentum due to large investments by companies in Bitcoin, Ethereum, Bitcoin Cash, etc.

Competitors in the Market

Canaan Inc.
HIVE Blockchain Technologies Ltd.
Argo Blockchain
ViaBTC
Braiins Systems s.r.o.
F2Pool
Bit Digital, Inc.
Riot Blockchain, Inc.
Genesis Mining Ltd.
BITMAIN Technologies Holding Company
Hut 8 Mining Corp.
iMining Technologies Inc.
MinerGate
ASICminer Company
Miningstore
MININGSKY
INNOSILICON Technology Ltd.
Shenzhen MicroBT Electronics Technology Co., Ltd
GMO Internet
Core Scientific
Other Prominent Players
Market Segmentation

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The global cryptocurrency market segmentation focuses on Mining, Revenue Source, Hardware, Application, and Region.

By Mining Enterprise Outlook

Large Miners
Small Miners

By Revenue Source Outlook

Block Rewards
Transaction Fees

By Hardware Outlook

ASIC
GPU
CPU
Others

By Application Outlook

Remote Hosting Services
Cloud Mining Services
Self-Mining

By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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Table of Contents:

  • Market Overview
  • Market Definition and Scope
  • Market Dynamics
  • Market Industry Analysis
  • Market, Regional Analysis
  • Analysis of Leading Companies
  • Competitive Intelligence
  • Research Process
  • Market Analysis and Forecast, By Product Types

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
  • Based on what factors are the key market players assessed in this report?
  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Players
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
  • the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

About Quadintel:

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Source: https://www.digitaljournal.com/pr/cryptocurrency-mining-market-news-todays-2022-projections-and-future-opportunities-recorded-for-the-period-2030

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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