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North America Cryptocurrency Mining Market – Industry Trends and Forecast to 2029

Semiconductors and Electronics

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North America Cryptocurrency Mining Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Published Report
  • Feb 2022
  • North America
  • 350 Pages
  • No of Tables: 33
  • No of Figures: 23

North America Cryptocurrency Mining Market, By Mining Enterprise (Large Miners and Small Miners), Revenue Source (Transaction Fees and Block Rewards), Mining Type (Self-Mining, Cloud Mining Services, Remote Hosting Services), Hardware (ASIC, GPU, CPU, and Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2029

North America Cryptocurrency Mining Market

Market Analysis and Insights : North America Cryptocurrency Mining Market

The cryptocurrency market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 9.1% in the forecast period of 2022 to 2029 and expected to reach USD 725.96 million by 2029.

Cryptocurrency mining is a mechanism by which Bitcoin and several other cryptocurrencies generate new coins and validate new transactions. It entails the use of huge, decentralized networks of computers all over the world to verify and safeguard blockchains, which are virtual ledgers that record bitcoin transactions. Computers in the network are rewarded with new coins in exchange for contributing their processing power. It is a virtuous circle where miners secure and maintain the blockchain. In return, the blockchain rewards coins, and the coins provide an incentive for the miners to maintain the blockchain.

Cryptocurrency mining is the process of creating new bitcoin by solving puzzles. Miners have become very sophisticated over the past several years, using complex machinery to speed up mining operations. Because of this, the companies are coming up with advanced mining machines for their customers. In addition, some companies are collaborating with other companies to provide different services to the customers. Thus as the demand for a mining pool is increasing in the market, the demand for advanced mining machines is also increasing. However, the high transaction fees related to it may hamper the growth of the market.

The cryptocurrency mining market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Cryptocurrency mining market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

North America Cryptocurrency Mining Market

Cryptocurrency Mining Market Scope and Market Size

The cryptocurrency mining market is segmented into four notable segments which are based on the mining enterprise, revenue source, mining type and hardware. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

  • Based on the mining enterprise, the cryptocurrency mining market is segmented into large miners and small miners. In 2022, the large miners’ segment is expected to dominate the global cryptocurrency mining market, as it is good for cryptocurrency because they have inspired further innovation. In addition, it reduces centralization and market cornering.
  • Based on revenue source, the cryptocurrency mining market is segmented into transaction fees and block rewards. In 2022, the block rewards segment is anticipated to dominate the global cryptocurrency mining market, as it is a reward given to the miner to compensate them for their efforts in mining the block.
  • Based on mining type, the cryptocurrency mining market is segmented into self-mining, cloud mining services, and remote hosting services. In 2022, the remote hosting services segment is anticipated to dominate the market as several miners combine their effort and resources over a network and mine cryptocurrency with much more computational power.
  • Based on hardware, the cryptocurrency mining market is segmented into ASIC, GPU, CPU, and others. In 2022, ASIC is anticipated to dominate the market, as it is the most energy-efficient of all other miners. In addition, it provides high hash rates and enhances the earning prospects of investors, which is expected to raise its demand in the market.

Cryptocurrency Mining Market Country Level Analysis 

The cryptocurrency mining market is analyzed and market size information is provided by the country, mining enterprise, revenue source, mining type and hardware as referenced above.

The countries covered in the cryptocurrency mining market report are the U.S., Canada, Mexico.

The U.S. dominates the North American region due to the increased adoption from payment applications like PayPal will give far more people easy access to cryptocurrency.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.  

Increasing penetration of internet and smartphones has risen the demand for cryptocurrency in the market

 The cryptocurrency mining market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2012-2020.

Competitive Landscape and Cryptocurrency Mining Market Share Analysis

Cryptocurrency mining market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to cryptocurrency mining market.

Some of the major players operating in the cryptocurrency mining market are Canaan Inc., Argo Blockchain, HIVE Blockchain Technologies Ltd., Bit Digital, Inc., Riot Blockchain, Inc., ViaBTC, Braiins Systems s.r.o., F2Pool, Genesis Mining Ltd., BITMAIN Technologies Holding Company, Hut 8 Mining Corp., Miningstore.com, MININGSKY (a subsidiary of Skychain Technologies Inc.), iMining Technologies Inc., MinerGate, ASICminer Company, INNOSILICON Technology Ltd., Shenzhen MicroBT Electronics Technology Co., Ltd, GMO Internet, Core Scientific, among others.

Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the cryptocurrency mining market.

For instances,

  • In January 2022, Hut 8 Mining Corp. announced that they had acquired the cloud and co-location data center business of TeraGo Inc. The acquisition comprises five data centers in Canada, which include a complete selection of scalable cloud services. Thus this will help the company to expand its business and customer base in the market
  • In August 2021, iMining Technologies Inc. announced that they had acquired the three validators securing the Ethereum Proof-of-Stake blockchain. These three Eth2.0 validators are cloud-based and are operational. Thus, the acquisition will help the company to save fees and weeks of staking rewards, helping in companies growth

Customization Available: North America Cryptocurrency Mining Market

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report


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TABLE 1 CRYPTOCURRENCY MINING ANALYSIS

TABLE 2 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY MINING ENTERPRISE, 2020-2029 (USD MILLION)

TABLE 3 NORTH AMERICA LARGE MINERS IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 4 NORTH AMERICA SMALL MINERS IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 5 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY REVENUE SOURCE, 2020-2029 (USD MILLION)

TABLE 6 NORTH AMERICA BLOCK REWARDS IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 7 NORTH AMERICA TRANSACTION FEES IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 8 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY MINING TYPE, 2020-2029 (USD MILLION)

TABLE 9 NORTH AMERICA REMOTE HOSTING SERVICES IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 10 NORTH AMERICA CLOUD MINING SERVICES IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 11 NORTH AMERICA SELF-MINING IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 12 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY HARDWARE, 2020-2029 (USD MILLION)

TABLE 13 NORTH AMERICA ASIC IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 14 NORTH AMERICA GPU IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 15 NORTH AMERICA CPU IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 16 NORTH AMERICA OTHER IN CRYPTOCURRENCY MINING MARKET, BY REGION, 2020-2029 (USD MILLION)

TABLE 17 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY COUNTRY, 2020-2029 (USD MILLION)

TABLE 18 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY MINING ENTERPRISES, 2020-2029 (USD MILLION)

TABLE 19 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY REVENUE SOURCE, 2020-2029 (USD MILLION)

TABLE 20 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY MINING TYPE, 2020-2029 (USD MILLION)

TABLE 21 NORTH AMERICA CRYPTOCURRENCY MINING MARKET, BY HARDWARE, 2020-2029 (USD MILLION)

TABLE 22 U.S. CRYPTOCURRENCY MINING MARKET, BY MINING ENTERPRISES, 2020-2029 (USD MILLION)

TABLE 23 U.S. CRYPTOCURRENCY MINING MARKET, BY REVENUE SOURCE, 2020-2029 (USD MILLION)

TABLE 24 U.S. CRYPTOCURRENCY MINING MARKET, BY MINING TYPE, 2020-2029 (USD MILLION)

TABLE 25 U.S. CRYPTOCURRENCY MINING MARKET, BY HARDWARE, 2020-2029 (USD MILLION)

TABLE 26 CANADA CRYPTOCURRENCY MINING MARKET, BY MINING ENTERPRISES, 2020-2029 (USD MILLION)

TABLE 27 CANADA CRYPTOCURRENCY MINING MARKET, BY REVENUE SOURCE, 2020-2029 (USD MILLION)

TABLE 28 CANADA CRYPTOCURRENCY MINING MARKET, BY MINING TYPE, 2020-2029 (USD MILLION)

TABLE 29 CANADA CRYPTOCURRENCY MINING MARKET, BY HARDWARE, 2020-2029 (USD MILLION)

TABLE 30 MEXICO CRYPTOCURRENCY MINING MARKET, BY MINING ENTERPRISES, 2020-2029 (USD MILLION)

TABLE 31 MEXICO CRYPTOCURRENCY MINING MARKET, BY REVENUE SOURCE, 2020-2029 (USD MILLION)

TABLE 32 MEXICO CRYPTOCURRENCY MINING MARKET, BY MINING TYPE, 2020-2029 (USD MILLION)

TABLE 33 MEXICO CRYPTOCURRENCY MINING MARKET, BY HARDWARE, 2020-2029 (USD MILLION)

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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

FREQUENTLY ASK QUESTIONS

North America Cryptocurrency Mining Market is growing with the CAGR of 9.1% during the forecast period of 2022 to 2029
North America Cryptocurrency Mining Market is expected to reach USD 725.96 million during the forecast period of 2022 to 2029
The cryptocurrency mining market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
The major players operating in the cryptocurrency mining market are Canaan Inc., Argo Blockchain, HIVE Blockchain Technologies Ltd., Bit Digital, Inc., Riot Blockchain, Inc., ViaBTC, Braiins Systems s.r.o., F2Pool, Genesis Mining Ltd., BITMAIN Technologies Holding Company, Hut 8 Mining Corp., Miningstore.com, MININGSKY (a subsidiary of Skychain Technologies Inc.), iMining Technologies Inc., MinerGate, ASICminer Company, INNOSILICON Technology Ltd., Shenzhen MicroBT Electronics Technology Co., Ltd, GMO Internet, Core Scientific, among others.
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