Cryptocurrency Mining Equipment Market, by Equipment (Graphics Processing Units (GPUs), Field Programmable Gate Arrays (FPGAs), Application Specific Integrated Circuits (ASICs), and PCs or other consumer electronics), by Mining Type (Self Mining, Cloud Mining Services, and Remote Hosting Services), and by Geography - Global Industry Insights till 2025

Global Cryptocurrency Mining Equipment Market - Insights

Cryptocurrency mining functions on the principle of blockchain technology, wherein mining involves assembling transactions into blocks and executing multiple computations, in order to seal those blocks. These functions are based on distributed computing principle and require other systems to verify the transaction and in turn are rewarded with transaction fees and new block.

Altcoins have gained significant popularity and acceptance in economies such as Canada, the U.S., France, Germany, Japan, and Mexico. According to CoinMarketCap, as of March 2018, total market capital of all the mineable and non-mineable cryptocurrencies was pegged at US$ 296.03 billion, up from US$ 22.62 billion in March 2017, is expected to witness significant growth over the forecast period. This has led to increased emphasis on the deployment of systems for transaction verification and authentication. Moreover, owing to high market capital of cryptocurrencies such as Bitcoins, Ethereum, Bitcoin Cash, Litecoin, Monero, Dash, Ethereum Classic, Bitcoin Gold, and Zcash have led to increased profitability of the miners. Thus, to ensure smooth functioning of these digital transactions and achieve high probability of finding new blocks in addition to transaction fees, cryptocurrency mining equipment are estimated to witness significant demand over the forecast period.

Figure 1. Global Cryptocurrency Equipment Market

cryptocurrency mining equipment market

Source: Coherent Market Insights (2018)

Development of ASICs and GPUs with hashing power ranging from few GHs to Th/s is expected to present strong growth prospects over the forecast period

In April 2017, Russian Miner Coin launched the new pantec miner with power consumption of 600 W and power connection of 220 V. In April 2017, Zhejiang Ebang Communication Co., Ltd introduced E10 18T Miner integrated with Samsung 10nm Chips for bitcoin mining. These 10nm DW1228 chips manufactured by Samsung find significant applications in boosting E10 hashrate featuring speeds upto 18TH/s. Other major companies that include Advanced Micro Devices, Inc., NVIDIA graphics Pvt. Ltd. and Bitmain Technologies Ltd. are also involved in the development of GPUs and ASICs with higher power efficiency and faster hash rates for providing the miner with higher probability of finding new blocks and garner increased profit margins. In conjunction with these factors, growing difficulty levels of the altcoin mining will present strong growth prospects for the cryptocurrency mining equipment market over the forecast period.

On the basis of the equipment, ASICs contributed highest market value share in 2016, and is expected to continue its dominance over the forecast period. Prominent factor influencing the growth of this segment include high hashing power, customizability for specific altcoin operations, unlike GPUs which are used for general purposes that find applications in various other industry domains such as gaming, graphic development, and astronomy. Moreover, these ASICs consume much lesser power as compared to GPU and hence, the hardware efficiency of ASICs is superior to that of any other mining system available in the market. However, utilization of ASICs are limited to specific digital currencies and it cannot be used for mining other currencies such as Ehtereum and Ethereum Classic.

Asia Pacific cryptocurrency mining equipment market contributed largest industry share in the industry and it is expected to continue dominance over the forecast period. The region has a large concentration of players, owing economies of scale, specifically in China. However, unfavorable regulatory developments in China, leading to ban of cryptocurrency exchanges is expected to hamper the regional growth of the market.

Major players in the global cryptocurrency mining equipment market include Advanced Micro Devices, Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co., Ltd, NVIDIA Graphics Pvt. Ltd., Bitmain Technologies Ltd, SBI Group, Bitfury, TSMC, Canaan Creative Co. Ltd, Global Foundries, and United Microelectronics Corporation. Market is highly consolidated with top 5 companies contributing over 60% of the overall industry share in 2016. According to Coherent Market Insights analysis, market is expected to open, following the entry of new players in the industry space.

Our study includes organizations that deal with cryptocurrency mining, specifically it’s about the equipment used for cryptocurrency mining. Increasing popularity of cryptocurrencies and its mining along with high rewards it offers on successful mining of blocks are expected to be among the prominent factors fueling growth of cryptocurrency mining equipment market.

Market Dynamics

The trend of digital currencies in the form of cryptocurrencies is gaining traction, owing to which multiple mining methods are being developed to mine complex and optimum number of blocks. The hardware required for cryptocurrency mining range from the domestic devices such as PCs, smartphones and tablets to the highly sophisticated equipment such as Graphics Processing Units (GPUs), Application Specific Integrated Circuits (ASICs) and Field Programmable Gate Arrays (FPGAs).

Key features of the study:

  • This report provides in-depth analysis of cryptocurrency mining equipment, market size (US$ Million), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global cryptocurrency mining equipment market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, cryptocurrency mining equipment market capital, key developments, strategies, and future plans
  • Companies covered as part of this study include Advanced Micro Devices, Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co., Ltd, NVIDIA Graphics Pvt. Ltd., Bitmain Technologies Ltd, SBI Group, Bitfury, TSMC, Canaan Creative Co. Ltd, Global Foundries and UMC.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics
  • The global cryptocurrency mining equipment market report caters to various stakeholders in this industry including investors, manufacturers, new entrants, large and small scale miners and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the global cryptocurrency mining equipment market

Detailed Segmentation:

  • Global Cryptocurrency Mining Equipment Market, By Equipment:
    • Graphics Processing Units (GPUs)
    • Field Programmable Gate Arrays (FPGAs)
    • Application Specific Integrated Circuits (ASICs)
    • PCs or Other Consumer electronics
  • Global Cryptocurrency Mining Equipment Market, By Mining Type:
    • Self-Mining
    • Cloud Mining Services
    • Remote Hosting Services
  • Global Cryptocurrency Mining Equipment Market, By Geography:
    • North America
      • By Equipment:
        • Graphics Processing Units (GPUs)
        • Field Programmable Gate Arrays (FPGAs)
        • Application Specific Integrated Circuits (ASICs)
      • By Mining Type:
        • Self-Mining
        • Cloud Mining Services
        • Remote Hosting Services
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Equipment:
        • Graphics Processing Units (GPUs)
        • Field Programmable Gate Arrays (FPGAs)
        • Application Specific Integrated Circuits (ASICs)
      • By Mining Type:
        • Self-Mining
        • Cloud Mining Services
        • Remote Hosting Services
      • By Country:
        • Iceland
        • Czech Republic
        • Georgia
        • Poland
        • Sweden
        • Rest of Europe
    • Asia Pacific
      • By Equipment:
        • Graphics Processing Units (GPUs)
        • Field Programmable Gate Arrays (FPGAs)
        • Application Specific Integrated Circuits (ASICs)
      • By Mining Type:
        • Self-Mining
        • Cloud Mining Services
        • Remote Hosting Services
      • By Country:
        • China
        • Hong Kong
        • Japan
        • Rest of Asia Pacific
    • Latin America
      • By Equipment:
        • Graphics Processing Units (GPUs)
        • Field Programmable Gate Arrays (FPGAs)
        • Application Specific Integrated Circuits (ASICs)
      • By Mining Type:
        • Self-Mining
        • Cloud Mining Services
        • Remote Hosting Services
      • By Country:
        • Venezuela
        • Rest of Latin America
  • Company Profiles
    • Advanced Micro Devices, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Russian Miner Coin
    • Halong Mining
    • Zhejiang Ebang Communication Co., Ltd
    • NVIDIA Graphics Pvt. Ltd.
    • Bitmain Technologies Ltd
    • SBI Group
    • Bitfury
    • TSMC
    • Canaan Creative Co. Ltd
    • Global Foundries
    • UMC

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Equipment
      • Market Snippet, By Mining Type
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Cryptocurrency Mining Equipment Market, By Equipment, 2015 –2025  (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Graphical Processing Units (GPUs)
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million)
    • Field Programmable Gate Arrays (FPGAs)
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million)
    • Application Specific Integrated Circuits (ASICs)
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million)
  5. Global Cryptocurrency Mining Equipment Market, By Mining Type, 2015–2025  (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Self-Mining
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million)
    • Cloud Mining Services
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million)
    • Remote Hosting Services
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million)
  6. Global Cryptocurrency Mining Equipment Market, By Regions, 2015–2025 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2015 and 2025 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Equipment, 2015–2025 (US$ Million)
      • Market Size and Forecast, By Mining Type, 2015–2025 (US$ Million)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Equipment, 2015–2025 (US$ Million)
      • Market Size and Forecast, By Mining Type, 2015–2025 (US$ Million)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • Iceland
        • Czech Republic
        • Georgia
        • Poland
        • Sweden
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Equipment, 2015–2025 (US$ Million)
      • Market Size and Forecast, By Mining Type, 2015–2025 (US$ Million)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • China
        • Hong Kong
        • Japan
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Equipment, 2015–2025 (US$ Million)
      • Market Size and Forecast, By Mining Type, 2015–2025 (US$ Million)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • Venezuela
        • Rest of Latin America
  7. Competitive Landscape
    • Company Profiles
      • Advanced Micro Devices, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Russian Miner Coin
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Halong Mining
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Zhejiang Ebang Communication Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NVIDIA Graphics Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bitmain Technologies Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SBI Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bitfury
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TSMC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Canaan Creative Co. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Global Foundries
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • UMC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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