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Cryptocurrency Mining Hardware Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 134
  • SKU: IRTNTR74049
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The cryptocurrency mining hardware market share is expected to increase by USD 9.21 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.75%.

This cryptocurrency mining hardware market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cryptocurrency mining hardware market segmentation by product (ASIC and GPU) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The cryptocurrency mining hardware market report also offers information on several market vendors, including Advanced Micro Devices Inc., Bitfury Group Ltd., BitMain Technologies Holding Co., Bolonminer, Canaan Inc., Ebang International Holdings Inc., GMO Internet Inc., Goldshell, Helium Systems Inc., HIVE Blockchain Technologies Ltd., INNOSILICON Technology Ltd., Intel Corp., Marathon Digital Holdings Inc., NVIDIA Corp., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd, Spondoolies Ltd., and Unruly Technologies Ltd. among others.

What will the Cryptocurrency Mining Hardware Market Size be During the Forecast Period?

Cryptocurrency Mining Hardware Market Size

Download Report Sample to Unlock the Cryptocurrency Mining Hardware Market Size for the Forecast Period and Other Important Statistics

 

Cryptocurrency Mining Hardware Market: Key Drivers, Trends, and Challenges

The profitability of cryptocurrency mining ventures is notably driving the cryptocurrency mining hardware market growth, although factors such as volatility in the value of cryptocurrency may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cryptocurrency mining hardware industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Cryptocurrency Mining Hardware Market Driver

The profitability of cryptocurrency mining ventures is one of the major drivers impacting the cryptocurrency mining hardware market growth. Mining cryptocurrency is a slow and cumbersome process, which is not profitable on a small scale. Hence, cryptocurrency miners set up large-scale dedicated rigs to increase the profits of their ventures. The adoption of cryptocurrency cloud mining is growing. In cloud mining, customers invest in a cloud-hosted cryptocurrency mining venture, which transfers a certain share of the earned cryptocurrency to its customers. The cloud-hosted cryptocurrency mining venture uses the investment to improve its process of mining by buying CPU power from a data center that uses its equipment to mine cryptocurrency. The profitability of cryptocurrency mining ventures will lead to the entry of several small-scale cryptocurrency mining ventures that will adopt cloud mining, which will drive the growth of the global cryptocurrency mining hardware market during the forecast period.

Key Cryptocurrency Mining Hardware Market Trend

The growing demand for cryptocurrency-specific hardware is one of the major trends influencing the cryptocurrency mining hardware market growth. Mainstream desktops, laptops, and powerful gaming consoles have high energy needs and slow hash rates. Hence, they are not economical to run the cryptocurrency mining hardware. The increasing demand from hobbyists and beginners for mining hardware has encouraged large semiconductor companies and system designers to invest in cryptocurrency mining-specific hardware. PCs and gaming specific-hardware solutions were used earlier to mine cryptocurrencies such as Bitcoin. However, due to the inherent advantages of ASIC mining hardware, the use of PCs has reduced significantly. But recently, due to the advent of alternative cryptocurrencies such as Ether, which do not gain a significant advantage from the use of specialized mining hardware, the demand for high-end graphics cards is increasing. 

Key Cryptocurrency Mining Hardware Market Challenge

Volatility in the value of cryptocurrency is one of the major challenges impeding the cryptocurrency mining hardware market growth. The value of cryptocurrency is extremely volatile. Hence, low-risk investors do not include cryptocurrency in their financial portfolios. The volatility of value is due to the significant share of cryptocurrency held by a limited number of people who buy and sell high volumes on trading platforms and trade exchanges. The lack of transaction charges, position charges, trade posting fees, and regulations on trading platforms also causes volatility in the value of cryptocurrency. Hence, people who hold a significant share of cryptocurrency manipulate the value to increase their profits without making any actual investments. Therefore, several investors have refrained from including cryptocurrency in their financial portfolios, which is a challenge for the growth of the global cryptocurrency mining hardware market.

This cryptocurrency mining hardware market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global cryptocurrency mining hardware market as a part of the global technology hardware, storage, and peripherals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cryptocurrency mining hardware market during the forecast period.

Who are the Major Cryptocurrency Mining Hardware Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Advanced Micro Devices Inc.
  • Bitfury Group Ltd.
  • BitMain Technologies Holding Co.
  • Bolonminer
  • Canaan Inc.
  • Ebang International Holdings Inc.
  • GMO Internet Inc.
  • Goldshell
  • Helium Systems Inc.
  • HIVE Blockchain Technologies Ltd.
  • INNOSILICON Technology Ltd.
  • Intel Corp.
  • Marathon Digital Holdings Inc.
  • NVIDIA Corp.
  • Riot Blockchain Inc.
  • Shenzhen Fusionsilicon Semiconductor Co. Ltd.
  • Shenzhen MicroBT Electronics Technology Co. Ltd
  • Spondoolies Ltd.
  • Unruly Technologies Ltd.

 

This statistical study of the cryptocurrency mining hardware market encompasses successful business strategies deployed by the key vendors. The cryptocurrency mining hardware market is fragmented and the vendors are deploying growth strategies such as product innovations to compete in the market.

Product Insights and News

  • Advanced Micro Devices Inc. - The company offers cryptocurrency mining hardware such as Radeon RX Vega 56.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The cryptocurrency mining hardware market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Cryptocurrency Mining Hardware Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the cryptocurrency mining hardware market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Cryptocurrency Mining Hardware Market?

Cryptocurrency Mining Hardware Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

46% of the market’s growth will originate from APAC during the forecast period. China and Russia are the key markets for the cryptocurrency mining hardware market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The availability of subsidized electricity generated from renewable sources of energy and the lack of government regulations in the region will facilitate the cryptocurrency mining hardware market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic adversely affected the economies of North American countries, such as the US, Canada, and Mexico. It led to the temporary closure of industries such as manufacturing and automotive. However, the rise in the number of COVID-19 cases in the region brought opportunities for cryptocurrencies owing to increased consumer preference for digital currency. 

What are the Revenue-generating Product Segments in the Cryptocurrency Mining Hardware Market?

Cryptocurrency Mining Hardware Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The cryptocurrency mining hardware market share growth in the ASIC segment will be significant during the forecast period. ASIC-based cryptocurrency mining hardware solutions are used to process and record the transaction of cryptocurrencies efficiently. ASIC-based cryptocurrency mining hardware solutions are built to solve a single hash algorithm. For instance, a Bitcoin mining ASIC-based hardware solution can only mine Bitcoin. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the cryptocurrency mining hardware market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Cryptocurrency Mining Hardware Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.75%

Market growth 2022-2026

$ 9.21 billion

Market structure

Fragmented

YoY growth (%)

8.67

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 46%

Key consumer countries

US, Canada, China, Russia, and Ireland

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Advanced Micro Devices Inc., Bitfury Group Ltd., BitMain Technologies Holding Co., Bolonminer, Canaan Inc., Ebang International Holdings Inc., GMO Internet Inc., Goldshell, Helium Systems Inc., HIVE Blockchain Technologies Ltd., INNOSILICON Technology Ltd., Intel Corp., Marathon Digital Holdings Inc., NVIDIA Corp., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd, Spondoolies Ltd., and Unruly Technologies Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

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What are the Key Data Covered in this Cryptocurrency Mining Hardware Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive cryptocurrency mining hardware market growth during the next five years
  • Precise estimation of the cryptocurrency mining hardware market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the cryptocurrency mining hardware industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cryptocurrency mining hardware market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 ASIC - Market size and forecast 2021-2026
      • Exhibit 28: Chart on ASIC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on ASIC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on ASIC - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on ASIC - Year-over-year growth 2021-2026 (%)
    • 5.4 GPU - Market size and forecast 2021-2026
      • Exhibit 32: Chart on GPU - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on GPU - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on GPU - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on GPU - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 36: Market opportunity by Product ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Russia - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Russia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Russia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Russia - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Russia - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 Ireland - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Ireland - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Ireland - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Ireland - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Ireland - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Advanced Micro Devices Inc.
              • Exhibit 89: Advanced Micro Devices Inc. - Overview
              • Exhibit 90: Advanced Micro Devices Inc. - Business segments
              • Exhibit 91: Advanced Micro Devices Inc. - Key news
              • Exhibit 92: Advanced Micro Devices Inc. - Key offerings
              • Exhibit 93: Advanced Micro Devices Inc. - Segment focus
            • 10.4 Bitfury Group Ltd.
              • Exhibit 94: Bitfury Group Ltd. - Overview
              • Exhibit 95: Bitfury Group Ltd. - Product / Service
              • Exhibit 96: Bitfury Group Ltd. - Key offerings
            • 10.5 BitMain Technologies Holding Co.
              • Exhibit 97: BitMain Technologies Holding Co. - Overview
              • Exhibit 98: BitMain Technologies Holding Co. - Product / Service
              • Exhibit 99: BitMain Technologies Holding Co. - Key offerings
            • 10.6 Canaan Inc.
              • Exhibit 100: Canaan Inc. - Overview
              • Exhibit 101: Canaan Inc. - Product / Service
              • Exhibit 102: Canaan Inc. - Key offerings
            • 10.7 Ebang International Holdings Inc.
              • Exhibit 103: Ebang International Holdings Inc. - Overview
              • Exhibit 104: Ebang International Holdings Inc. - Product / Service
              • Exhibit 105: Ebang International Holdings Inc. - Key offerings
            • 10.8 GMO Internet Inc.
              • Exhibit 106: GMO Internet Inc. - Overview
              • Exhibit 107: GMO Internet Inc. - Business segments
              • Exhibit 108: GMO Internet Inc. - Key offerings
              • Exhibit 109: GMO Internet Inc. - Segment focus
            • 10.9 Goldshell
              • Exhibit 110: Goldshell - Overview
              • Exhibit 111: Goldshell - Product / Service
              • Exhibit 112: Goldshell - Key offerings
            • 10.10 INNOSILICON Technology Ltd.
              • Exhibit 113: INNOSILICON Technology Ltd. - Overview
              • Exhibit 114: INNOSILICON Technology Ltd. - Product / Service
              • Exhibit 115: INNOSILICON Technology Ltd. - Key offerings
            • 10.11 NVIDIA Corp.
              • Exhibit 116: NVIDIA Corp. - Overview
              • Exhibit 117: NVIDIA Corp. - Business segments
              • Exhibit 118: NVIDIA Corp. - Key news
              • Exhibit 119: NVIDIA Corp. - Key offerings
              • Exhibit 120: NVIDIA Corp. - Segment focus
            • 10.12 Shenzhen MicroBT Electronics Technology Co. Ltd
              • Exhibit 121: Shenzhen MicroBT Electronics Technology Co. Ltd - Overview
              • Exhibit 122: Shenzhen MicroBT Electronics Technology Co. Ltd - Product / Service
              • Exhibit 123: Shenzhen MicroBT Electronics Technology Co. Ltd - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 124: Inclusions checklist
                • Exhibit 125: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 126: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 127: Research methodology
                • Exhibit 128: Validation techniques employed for market sizing
                • Exhibit 129: Information sources
              • 11.5 List of abbreviations
                • Exhibit 130: List of abbreviations
              • Europe holds a low share of the global cryptocurrency mining hardware market due to the high cost of electricity in several countries, especially in Western Europe, which makes cryptocurrency mining ventures unprofitable. However, the concentration of cryptocurrency mining ventures is high in countries such as Russia, Iceland, Georgia, and Ukraine due to the low cost of electricity and the presence of favorable regulations. The ban on trading and mining cryptocurrency in China will force several cryptocurrency mining ventures from the country to relocate their operations to countries in Europe that have favorable regulations.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Cryptocurrency Mining Hardware market growth will increase by $9216.16 million during 2022-2026.
                The cryptocurrency mining hardware market is expected to grow at a CAGR of 9.75% during 2022-2026.
                Technavio has segmented the cryptocurrency mining hardware market by geographic (APAC, North America, Europe, South America, and Middle East and Africa).
                Advanced Micro Devices Inc., Bitfury Group Ltd., BitMain Technologies Holding Co., Bolonminer, Canaan Inc., Ebang International Holdings Inc., GMO Internet Inc., Goldshell, Helium Systems Inc., HIVE Blockchain Technologies Ltd., INNOSILICON Technology Ltd., Intel Corp., Marathon Digital Holdings Inc., NVIDIA Corp., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd, Spondoolies Ltd., Unruly Technologies Ltd. are a few of the key vendors in the cryptocurrency mining hardware market.
                APAC will register the highest growth rate of 46.21% among the other regions. Therefore, the cryptocurrency mining hardware market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the cryptocurrency mining hardware market growth are:
                • Profitability of cryptocurrency mining ventures
                • Profitability of cryptocurrency mining ventures
                The cryptocurrency mining hardware market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
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                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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