Bitcoin-Mining Machine Market Scope
Bitcoin mining is performed using very sophisticated computers that solve extremely complex computational math problems, by which new bitcoins are entered into circulation. It is also used for the maintenance and development of the blockchain ledger. The main hardware required is a graphics processing unit or an application-specific integrated circuit in order to set up a mining rig.
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing the after-sale service to the consumers. Moreover, the key players are accepting strategic decisions and are thinking about mergers and acquisitions in order to maintain their presence in the market.
Canaan Creative (China), Compass mining Inc. (United States), Bitmain (China), MicroBT (China), Ebang International Holdings Inc. (China), Halong Mining (China), Xilinx (United States), Mvidia Corporation (United States), Advanced Micro Devices Inc. (United States) and ASICminer Company (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Baikal Miner (China), Bitfury Group Ltd. (Netherland), Innosilicon Technology Ltd. (China), KnCMiner AB (Sweden), Biostar Group (Taiwan) and 500.com Limited (China).
Segmentation Overview
The study have segmented the market of Global Bitcoin-Mining Machine market , by Application (Enterprise and Personal) and Region with country level break-up.
On the basis of geography, the market of Bitcoin-Mining Machine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Technological Advancements in Mining That Improve the Efficiency and Profitability of Bitcoin-Mining Machine
Market Growth Drivers:
Growing Demand for Bitcoin Mining Hardware Due to Continuous Growth of Cryptocurrency Prices and High Reward Offered by Crypto Currency Mining
Challenges:
Lack of Professionalism and Training
Restraints:
Rise in the Price of Mining Hardware Owing to High Demand and Stringent Government Regulations across the Globe
Opportunities:
Expansion in the Operation by Current Miners Owing to Graters Profit Margin and New Entrants in the Bitcoin Mining
Market Leaders and their Expansionary Development Strategies
In April 2021, 500.com Limited entered into definitive agreements to purchase cryptocurrency mining machines, acquire a controlling stake in Loto Interactive Limited, and will acquire the entire mining pool business of Bitdeer Technologies Holding Company operated under BTC.com.
In 2021, Marathon Patent Group secured a purchase agreement for the latest rigs which will reportedly receive 6,000 Antminer S-19J Pro rigs and an additional 4,000 in September 2021.
The mining of cryptocurrencies in various countries is illegal. Different countries have different regulatory frameworks for cryptocurrency operations. For, instance, in 2018, the European Supervisory Authorities for Securities (ESMA), banking (EBA), and Insurance and Pensions (EIOPA) jointly issued a warning to consumers regarding virtual currencies, stating that they are “highly risky and unregulated products and are unsuitable as investment, savings or retirement planning products.
Key Target Audience
Bitcoin-Mining Machine Manufacturers, Components and Accessories Suppliers, Chip Manufacturers, End-Use Industry and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.