Global Cryptocurrency Mining Research Report 2023-2028: Evolutions in Hardware Technology Fostering Growth

DUBLIN, Sept. 19, 2023 /PRNewswire/ — The “Global Cryptocurrency Mining Market Report and Forecast 2023-2028” report has been added to  ResearchAndMarkets.com’s offering.

 
Global cryptocurrency mining market reached a value of USD 2.61 billion in 2022. Aided by the rising interest in digital currencies and the expanding applications of blockchain technology across various sectors, the market is projected to further grow at a CAGR of 9.15% between 2023 and 2028 to reach a value of USD 3.95 billion by 2028.
The global cryptocurrency mining market is witnessing substantial growth driven by increasing public interest in cryptocurrencies and their potential as alternative investments.
Cryptocurrency mining, a resource-intensive computational process, plays a pivotal role in verifying and recording digital asset transactions on the blockchain. Popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin are frequently mined, creating a demand surge for sophisticated computer systems and energy resources.
Moreover, the adoption of blockchain technology across various industries, such as finance, logistics, healthcare, and real estate, contributes to the market’s expansion. Blockchain’s decentralized and transparent nature enhances operational efficiency, indirectly boosting cryptocurrency mining activities.
Technological advancements, notably Application-Specific Integrated Circuits (ASICs), have enhanced mining efficiency, enabling more participants to engage in cryptocurrency mining. This evolution in hardware technology attracts a broader user base to the cryptocurrency mining sector, fostering its continuous growth.
Some of the major key players explored in the report are as follows:
Binance HoldingsBIT Mining LimitedGreenidge Generation Holdings Inc.Genesis Mining Ltd.NiceHashBitmain Technologies Ltd.Bitfury Group LimitedStartminerRiot Platforms, Inc.BeMineMarket SegmentationMarket Breakup by Mining Type
Self-MiningCloud Mining ServicesRemote Hosting ServicesMarket Breakup by Hardware
ASICGPUCPUOthersMarket Breakup by Mining Enterprise
Large MinersSmall MinersMarket Breakup by Revenue Source
Transaction FeesBlock RewardsMarket Breakup by Region
North AmericaEuropeAsia PacificLatin AmericaMiddle East and AfricaFor more information about this report visit https://www.researchandmarkets.com/r/ri4gst
About ResearchAndMarkets.comResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.com 
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View original content:https://www.prnewswire.com/news-releases/global-cryptocurrency-mining-research-report-2023-2028-evolutions-in-hardware-technology-fostering-growth-301932380.html
SOURCE Research and Markets 

DUBLIN, Sept. 19, 2023 /PRNewswire/ — The “Global Cryptocurrency Mining Market Report and Forecast 2023-2028″ report has been added to  ResearchAndMarkets.com’s offering.

 

Global cryptocurrency mining market reached a value of USD 2.61 billion in 2022. Aided by the rising interest in digital currencies and the expanding applications of blockchain technology across various sectors, the market is projected to further grow at a CAGR of 9.15% between 2023 and 2028 to reach a value of USD 3.95 billion by 2028.

The global cryptocurrency mining market is witnessing substantial growth driven by increasing public interest in cryptocurrencies and their potential as alternative investments.

Cryptocurrency mining, a resource-intensive computational process, plays a pivotal role in verifying and recording digital asset transactions on the blockchain. Popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin are frequently mined, creating a demand surge for sophisticated computer systems and energy resources.

Moreover, the adoption of blockchain technology across various industries, such as finance, logistics, healthcare, and real estate, contributes to the market’s expansion. Blockchain’s decentralized and transparent nature enhances operational efficiency, indirectly boosting cryptocurrency mining activities.

Technological advancements, notably Application-Specific Integrated Circuits (ASICs), have enhanced mining efficiency, enabling more participants to engage in cryptocurrency mining. This evolution in hardware technology attracts a broader user base to the cryptocurrency mining sector, fostering its continuous growth.

Some of the major key players explored in the report are as follows:

Binance HoldingsBIT Mining LimitedGreenidge Generation Holdings Inc.Genesis Mining Ltd.NiceHashBitmain Technologies Ltd.Bitfury Group LimitedStartminerRiot Platforms, Inc.BeMine

Market Segmentation

Market Breakup by Mining Type

Self-MiningCloud Mining ServicesRemote Hosting Services

Market Breakup by Hardware

ASICGPUCPUOthers

Market Breakup by Mining Enterprise

Large MinersSmall Miners

Market Breakup by Revenue Source

Transaction FeesBlock Rewards

Market Breakup by Region

North AmericaEuropeAsia PacificLatin AmericaMiddle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/ri4gst

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com 

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-cryptocurrency-mining-research-report-2023-2028-evolutions-in-hardware-technology-fostering-growth-301932380.html

SOURCE Research and Markets

 

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