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
The cryptocurrency mining report contains the list of driving contenders, in-depth knowledge of industry parameters and the experiences of key elements affecting the semiconductors&electronics business.
cryptocurrency mining market research report acts as a valued source of information with which businesses can achieve a telescopic view of the current market trends, consumer’s demands and preferences, market situations, opportunities and market status. The principal areas of market analysis such as market definition, market segmentation, competitive analysis and research methodology are studied very vigilantly and precisely throughout the report.
Two of the major tools utilized here for market analysis are SWOT analysis and Porter’s Five Forces Analysis.
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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.
- 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.
Top 2018 Cryptocurrency Trends Conclusion
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
By Revenue Source
- Transaction Fees
- Block Rewards
By Mining Type
- Cloud Mining Services
- Remote Hosting Services
- North America
- South America
- Middle East and Africa
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