The cryptocurrency mining market was valued at US$ 610.91 million in 2016 and is projected to reach US$ 38.38 billion by 2025, exhibiting a CAGR of 29.7% over the forecast period, Cryptocurrency mining involves grouping unverified transactions into new blocks and integrating them to global blockchain ledgers. Computing power of the miners is used to secure such technologies, through computing large number of hashes. The technology rewards the operators through new blocks and also helps them with a share of the transaction fees to these enterprises. Moreover, each valid block added to the system helps in enhancing security for preventing malicious attacks, double spend or reorganization of the already confirmed transactions.
Cryptocurrency mining activity could be performed from any regular system integrated with high processing capabilities. However, over the years, the industry has become highly capital intensive, in turn requiring the utilization of custom hardware solutions to perform economically viable operations. Growing difficulty level of these ledgers and increasing requirement of hashing power and electricity is expected to be among the major factors influencing the development of cryptocurrency mining. Growing market capitalization coupled with increasing scope of Alt coins in various applications is anticipated to be major factors influencing growth of the cryptocurrency mining market. However, declining probability of finding new blocks and requirement to provide higher transaction fees to support these operations are expected to among the major factors negatively impacting growth of the cryptocurrency mining market over the forecast period.
Key features of the study:
This report provides in-depth analysis of cryptocurrency mining, market size (US$ Billion), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global cryptocurrency mining market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, cryptocurrency market capital, key developments, and strategies and future plans
Key companies covered as a part of this study include AntPool, BTC.com, ViaBTC, BTC Top, SlushPool, F2Pool, Hashflare, Genesis Mining, Hashing 24, and Ebot
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future mining strategies, strategic know-how, market expansion and marketing tactics
The global cryptocurrency mining market report caters to various stakeholders in this industry including investors, individual miners, cloud and remote mining companies, equipment manufacturers, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cryptocurrency mining market