About Bitcoin Miner
Bitcoin mining refers to create new bitcoin by solving computational puzzles. Compared to other cryptocurrencies, Bitcoin is becoming much popular among miners for various purposes like trading, investment, or shopping. In today's time bitcoin miners are using the most advanced hardware to speed up mining operations and large-scale bitcoin mining. As the mining of bitcoin doesn't require to put money for buying bitcoin as a miner receives Bitcoin as a reward for completing blocks of verified transactions. However, in the most developed countries and some developing countries like India and China, the government has permitted the use of cryptocurrencies for various transactions, which will create significant opportunities for bitcoin mining. The increased adoption of mobile devices and growing popularity of bitcoin among the youth population is likely to accelerate the growth.
|Value (USD Million)
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Bitcoin Miner market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bitmain (China), NiceHash (United Kingdom), Bitfury (United States), Coinbase (United States), Canaan (China), HIVE Blockchain Technologies (Canada), Coinmine (United States), Genesis Digital Assets (Cyprus), TradeBlock (United States), KnCMiner (Sweden), CoinTerra, Inc. (United States), Blockcap, Inc. (United States) and Awesome Miner () are some of the key players that are part of study coverage.
AMA Research has segmented the market of Global Bitcoin Miner market by , Application (Personal and Commercial) and Region.
On the basis of geography, the market of Bitcoin Miner has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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 Components, the sub-segment i.e. Hardware will boost the Bitcoin Miner market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Bitcoin Miner market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Retail & E-commerce will boost the Bitcoin Miner market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating System, the sub-segment i.e. Windows will boost the Bitcoin Miner market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
The Use of New Technology Such as Immersion Cooling By the Miners to Boost the Performance and Reduce Mining Cost
Market Growth Drivers:
Surging Demand of Crypto Currency Among the Individuals for Investment or Trading, Growing Need for Fast and Most Advanced Technology for Large-Scale Bitcoin Mining and Growing Popularity of Bitcoin in the Online Merchant and Startup Companies Due to Fast Transaction Process and Low Transaction Cost
Mining Hardware Requires Lot of Energy to Keep Miners Running Efficiently
Lack of Awareness Among People and Ban on Crypto Currency Mining in Some Countries and Chip Shortage and Geopolitical Tension Between the US and China Will Affect the Bitcoin Miner Hardware
Government Initiatives to Allow the Use of Crypto Currency for Various Transactions in Developed Countries
In March 2021, Blockcap, Inc., the largest bitcoin mining and blockchain technology in North America announced the purchase of an additional 8,400 AvalonMiner 1246s from Canaan to boost hashing power. With the addition of the Canaan machines, Blockcap will deploy new miners which will help Blockcap to increase nearly triple its total hashing power from six months ago.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Bitcoin Mining Hardware Manufacturers, Suppliers & Distributors of Bitcoin Mining Hardware, Bitcoin Mining Software and Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About ApproachTo 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.