Global Cryptocurrency Mining Research Report 2023: A $3.95 Billion Market by 2028 - Application-Specific Integrated Circuits (ASICs) for Enhanced Mining Efficiency Driving Expansion

Dublin, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Cryptocurrency Mining Market Report and Forecast 2023-2028" report has been added to'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 Holdings
  • BIT Mining Limited
  • Greenidge Generation Holdings Inc.
  • Genesis Mining Ltd.
  • NiceHash
  • Bitmain Technologies Ltd.
  • Bitfury Group Limited
  • Startminer
  • Riot Platforms, Inc.
  • BeMine

Market Segmentation

Market Breakup by Mining Type

  • Self-Mining
  • Cloud Mining Services
  • Remote Hosting Services

Market Breakup by Hardware

  • ASIC
  • GPU
  • CPU
  • Others

Market Breakup by Mining Enterprise

  • Large Miners
  • Small Miners

Market Breakup by Revenue Source

  • Transaction Fees
  • Block Rewards

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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