About Cryptocurrency Mining Equipment
Cryptocurrency mining equipment is the equipment in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. The miner of cryptocurrency is responsible for ensuring the authenticity of information and updating the blockchain with the transaction.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Cryptocurrency Mining Equipment is a fragmented market due to the presence of several regional and international players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Cryptocurrency Mining Equipment market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Samsung Electronics (South Korea), NVIDIA (United States), Advanced Micro Devices (United States), Zhejiang Ebang Communication (China), Bitmain Technologies, Ltd (China), Canaan Creative (China), Taiwan Semiconductor Manufacturing Company (TSMC) (Taiwan) and BitFury Group (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Russian Micro Devices (Russia), Halong Mining (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Cryptocurrency Mining Equipment market by Type (Graphics Processing Units (GPUs), Field Programmable Gate Arrays (FPGAs), Application-Specific Integrated Circuits (ASICs) and PCs or other consumer electronics) and Region.
On the basis of geography, the market of Cryptocurrency Mining Equipment 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). If we see Market by Distribution Channel, the sub-segment i.e. Online Channel will boost the Cryptocurrency Mining Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mining Type, the sub-segment i.e. Self Mining will boost the Cryptocurrency Mining Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Usage of Cryptocurrency Services
Market Growth Drivers:
Rising Awareness among People about Cryptocurrency and Growing Difficulty Levels of the Altcoin Mining
Challenges:
Stringent Government Rues and Regulations about Cryptocurrency
Restraints:
Less Acceptance of the Cryptocurrency
Opportunities:
Technological Advancements in Online Transactions and Rising Demand from End-users
Market Leaders and their expansionary development strategies
In November 2023, AMD announced AMD instinct MI300 accelerator launch event highlighting rapidly expanding ecosystem of AI customers and partners.
In May 2022, NVIDIA corporation with inadequate disclosure about impact of cryptomining, announced settled charges against technology company NVIDIA Corporation for inadequate disclosures concerning the impact of cryptomining on the company’s gaming business.
Key Target Audience
Cryptocurrency Mining Equipment Providers, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.