Global cryptocurrency mining market is set to witness a healthy CAGR of 10.05% in the forecast period of 2019- 2026. The report contains data of the base year and historic year 2017. Increasing acceptance of cryptocurrency and technological advancement are the factor for the market growth
All the data and information collected in the report is studied and analysed with the demonstrated tools and techniques such as SWOT analysis and Porter’s Five Forces analysis. This report also provides the company profile, product specifications, production value, contact information of manufacturer and market shares for company. The cryptocurrency mining report emphasizes on changing dynamics, growth-driving factors, restraints, and limitations. With the study of competitor analysis, businesses get knowhow of the strategies of key players in the market that includes but are not limited to new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions.
Key Market Competitors:
Few of the major competitors currently working in the global cryptocurrency mining market are ViaBTC Technology Limited, Slush Pool, F2Pool, HashFlare LP, LIVIKA LP, Genesis Mining, Eobot Inc., Binance.com, BitMain Technologies Holding Company., Riot Blockchain, Inc., Hut 8 Mining Corp, MiningStore, Miningsky.io, iMining Blockchain and Cryptocurrency Inc, MinerGate, StartMiner, Alibaba.com, Stax Digital, SocialChain Inc, among others.
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- Increasing requirement of electricity and hashing power will drive the market
- Rising market capitalization will also enhance the market
- Growing scope of Alt coins in various applications will also accelerate the market
- Rising penetration of smartphones will also drive the market growth
- High transaction fees emphasised by miner will hamper the market growth
- Declining probability of finding new blocks will also restrain the market
- Lack of awareness and technical understanding towards the cryptocurrency mining can hamper the market growth
Key Developments in the Market:
- In September 2019, Bitmain announced the launch of their two new ASIC mining the S17e and the T17e. These two new models feature developments that are expected to result in increased effectiveness, more stable operation and longer service life. These two models also have high cybersecurity standards to decrease the risk associated with any unexpected attacks
- In April 2018, Vogogo Inc, announced that they have acquired Crypto 205 Inc. This acquisition will help the company to strengthen their position in the expanding cryptocurrency space. Vogogo now has a optimized network for blockchain transactions via associated payments, mining, and a variety of support services
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Segmentation: Global Cryptocurrency Mining Market
By Mining Enterprise
(Large Miners, Small Miners),
(Transaction Fees, Block Rewards),
(Self-Mining, Cloud Mining Services, Remote Hosting Services),
(North America, Europe, Asia-Pacific, South America, Middle East and Africa)
Global cryptocurrency mining market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cryptocurrency mining market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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