The cryptocurrency mining equipment market size has grown steadily in recent years. It will grow from $4.89 billion in 2024 to $5.13 billion in 2025 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to shift in mining pools, global regulatory environment, bitcoin difficulty adjustments, community consensus and forks, rise and fall of GPU mining.
The cryptocurrency mining equipment market size is expected to see strong growth in the next few years. It will grow to $6.56 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to cryptocurrency price volatility, energy efficiency and sustainability, global electricity costs, institutional interest and mining operations, supply chain disruptions. Major trends in the forecast period include bitcoin halving events, evolving cryptocurrency landscape, rise in cryptocurrency prices, transition to proof-of-stake (pos), global regulatory environment.
The growing adoption of blockchain technology is expected to drive the growth of the cryptocurrency mining equipment market in the future. Blockchain technology is a decentralized and distributed ledger system that securely records and verifies transactions across a network of computers. As blockchain becomes more widespread across various industries, the demand for mining equipment to secure and validate transactions on decentralized networks is also rising. Factors such as the expanding cryptocurrency ecosystem, reliance on consensus mechanisms, the development of blockchain-based applications, and incentives from mining rewards all contribute to this market growth. For example, in June 2022, Alchemy Insights Inc., a US-based software development company, reported a 24.7% increase in the creation of Ethereum smart contracts during Q1 2022, totaling 1.45 million contracts. This represents growth compared to the 1.16 million smart contracts generated in the previous quarter of 2021. Thus, the increasing adoption of blockchain technology is driving the growth of the cryptocurrency mining equipment market.
Major companies in the cryptocurrency mining equipment market are innovating their mining facilities to improve efficiency, reduce energy consumption, and optimize performance for large-scale mining operations. For example, in May 2022, AboutBit LLC, a US-based cryptocurrency mining energy services company, launched a cryptocurrency mining facility in Sullivan County, Indiana. This facility is designed to support over 50,000 mining machines, primarily for Bitcoin and other proof-of-work assets, with a total power capacity of 115 megawatts. The facility is anticipated to create additional jobs in the region as it evolves into a potential crypto mining hub.
Major companies in the cryptocurrency mining equipment market are creating new sustainable and efficient mining solutions, such as bitcoin miners, to gain a competitive advantage. Bitcoin miners are individuals or organizations responsible for verifying and validating transactions on the Bitcoin blockchain. For example, in November 2023, Auradine, a US-based web infrastructure solutions company, launched the Teraflux Bitcoin miners, the AT2880 and AI3680, which showcase significant advancements in ASIC technologies. These air-cooled and immersion miners are promoted as the world's fastest and most energy-efficient, featuring Auradine's innovative EnergyTune technology. The launch also includes the Invest in Bitcoin America program, which aims to strengthen the North American mining ecosystem. The new miners provide high performance, sustainability, and efficiency, with features such as dynamic hash rate adjustment, operating temperatures up to 50°C, and cloud-based management via FluxVision.
In January 2024, Phoenix Group PLC, a cryptocurrency mining and blockchain firm based in the United Arab Emirates, acquired Bitcoin mining machines from Bitmain Development PTI Limited for $187 million. This acquisition is intended to significantly increase the company's hashing power and strengthen its position in the competitive Bitcoin mining landscape. Bitmain Development PTI Limited is a Singapore-based provider of crypto mining equipment.
Major companies operating in the cryptocurrency mining equipment market are Advanced Micro Devices Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co. Ltd., NVIDIA Graphics Pvt. Ltd., Bitmain Technologies Ltd., Taiwan Semiconductor Manufacturing Company, Canaan Creative Co. Ltd., Bitfury, Samsung Group, SBI Holdings, GlobalFoundries, United Microelectronics Corporation (UMC), Bitfarms Ltd., Intel Corporation, Northern Data AG, DMG Blockchain Solutions Inc., Holicity Inc., Greenidge Generation Holdings Inc., Digihost Technology Inc., CleanSpark Inc., Bit Digital Inc., Core Scientific Holding Co., Stronghold Digital Mining Inc., Bit5ive LLC, Blockcap Inc., Foundry Digital LLC, Luxor Technologies Inc., Compute North LLC, Gryphon Digital Mining Inc., BitRiver AG, Compass Mining Inc.
Asia-Pacific was the largest region in the cryptocurrency mining equipment market in 2024. The regions covered in the cryptocurrency mining equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cryptocurrency mining equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cryptocurrency mining equipment market consists of sales of motherboards, RAM (random-access memory), PSU (power supply unit), and PCI-e risers (peripheral component interconnect express). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Cryptocurrency mining equipment refers to the hardware essential for engaging in the competitive process of adding new transactions to a blockchain, a critical aspect of cryptocurrency mining. Specialized hardware, often equipped with custom-made chips like application-specific integrated circuits (ASICs), is used in this process. Miners connect this equipment to the internet, configure it, and let it run to mine cryptocurrency.
Key types of cryptocurrency mining equipment encompass Graphics Processing Units (GPUs), Field Programmable Gate Arrays (FPGAs), application-specific integrated circuits (ASICs), and PC or CPU mining. Graphics Processing Units (GPUs) are electronic circuits capable of rendering graphics for display on computers or other electronic devices. Cryptocurrencies such as Bitcoin, Ripple, and Ethereum are mined using these equipment types, serving various applications like remote hosting services, cloud mining, and self-mining.
The cryptocurrency mining equipment research report is one of a series of new reports that provides cryptocurrency mining equipment market statistics, including cryptocurrency mining equipment industry global market size, regional shares, competitors with a cryptocurrency mining equipment market share, detailed cryptocurrency mining equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the cryptocurrency mining equipment industry. This cryptocurrency mining equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The cryptocurrency mining equipment market size is expected to see strong growth in the next few years. It will grow to $6.56 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to cryptocurrency price volatility, energy efficiency and sustainability, global electricity costs, institutional interest and mining operations, supply chain disruptions. Major trends in the forecast period include bitcoin halving events, evolving cryptocurrency landscape, rise in cryptocurrency prices, transition to proof-of-stake (pos), global regulatory environment.
The growing adoption of blockchain technology is expected to drive the growth of the cryptocurrency mining equipment market in the future. Blockchain technology is a decentralized and distributed ledger system that securely records and verifies transactions across a network of computers. As blockchain becomes more widespread across various industries, the demand for mining equipment to secure and validate transactions on decentralized networks is also rising. Factors such as the expanding cryptocurrency ecosystem, reliance on consensus mechanisms, the development of blockchain-based applications, and incentives from mining rewards all contribute to this market growth. For example, in June 2022, Alchemy Insights Inc., a US-based software development company, reported a 24.7% increase in the creation of Ethereum smart contracts during Q1 2022, totaling 1.45 million contracts. This represents growth compared to the 1.16 million smart contracts generated in the previous quarter of 2021. Thus, the increasing adoption of blockchain technology is driving the growth of the cryptocurrency mining equipment market.
Major companies in the cryptocurrency mining equipment market are innovating their mining facilities to improve efficiency, reduce energy consumption, and optimize performance for large-scale mining operations. For example, in May 2022, AboutBit LLC, a US-based cryptocurrency mining energy services company, launched a cryptocurrency mining facility in Sullivan County, Indiana. This facility is designed to support over 50,000 mining machines, primarily for Bitcoin and other proof-of-work assets, with a total power capacity of 115 megawatts. The facility is anticipated to create additional jobs in the region as it evolves into a potential crypto mining hub.
Major companies in the cryptocurrency mining equipment market are creating new sustainable and efficient mining solutions, such as bitcoin miners, to gain a competitive advantage. Bitcoin miners are individuals or organizations responsible for verifying and validating transactions on the Bitcoin blockchain. For example, in November 2023, Auradine, a US-based web infrastructure solutions company, launched the Teraflux Bitcoin miners, the AT2880 and AI3680, which showcase significant advancements in ASIC technologies. These air-cooled and immersion miners are promoted as the world's fastest and most energy-efficient, featuring Auradine's innovative EnergyTune technology. The launch also includes the Invest in Bitcoin America program, which aims to strengthen the North American mining ecosystem. The new miners provide high performance, sustainability, and efficiency, with features such as dynamic hash rate adjustment, operating temperatures up to 50°C, and cloud-based management via FluxVision.
In January 2024, Phoenix Group PLC, a cryptocurrency mining and blockchain firm based in the United Arab Emirates, acquired Bitcoin mining machines from Bitmain Development PTI Limited for $187 million. This acquisition is intended to significantly increase the company's hashing power and strengthen its position in the competitive Bitcoin mining landscape. Bitmain Development PTI Limited is a Singapore-based provider of crypto mining equipment.
Major companies operating in the cryptocurrency mining equipment market are Advanced Micro Devices Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co. Ltd., NVIDIA Graphics Pvt. Ltd., Bitmain Technologies Ltd., Taiwan Semiconductor Manufacturing Company, Canaan Creative Co. Ltd., Bitfury, Samsung Group, SBI Holdings, GlobalFoundries, United Microelectronics Corporation (UMC), Bitfarms Ltd., Intel Corporation, Northern Data AG, DMG Blockchain Solutions Inc., Holicity Inc., Greenidge Generation Holdings Inc., Digihost Technology Inc., CleanSpark Inc., Bit Digital Inc., Core Scientific Holding Co., Stronghold Digital Mining Inc., Bit5ive LLC, Blockcap Inc., Foundry Digital LLC, Luxor Technologies Inc., Compute North LLC, Gryphon Digital Mining Inc., BitRiver AG, Compass Mining Inc.
Asia-Pacific was the largest region in the cryptocurrency mining equipment market in 2024. The regions covered in the cryptocurrency mining equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cryptocurrency mining equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cryptocurrency mining equipment market consists of sales of motherboards, RAM (random-access memory), PSU (power supply unit), and PCI-e risers (peripheral component interconnect express). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Cryptocurrency mining equipment refers to the hardware essential for engaging in the competitive process of adding new transactions to a blockchain, a critical aspect of cryptocurrency mining. Specialized hardware, often equipped with custom-made chips like application-specific integrated circuits (ASICs), is used in this process. Miners connect this equipment to the internet, configure it, and let it run to mine cryptocurrency.
Key types of cryptocurrency mining equipment encompass Graphics Processing Units (GPUs), Field Programmable Gate Arrays (FPGAs), application-specific integrated circuits (ASICs), and PC or CPU mining. Graphics Processing Units (GPUs) are electronic circuits capable of rendering graphics for display on computers or other electronic devices. Cryptocurrencies such as Bitcoin, Ripple, and Ethereum are mined using these equipment types, serving various applications like remote hosting services, cloud mining, and self-mining.
The cryptocurrency mining equipment research report is one of a series of new reports that provides cryptocurrency mining equipment market statistics, including cryptocurrency mining equipment industry global market size, regional shares, competitors with a cryptocurrency mining equipment market share, detailed cryptocurrency mining equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the cryptocurrency mining equipment industry. This cryptocurrency mining equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Cryptocurrency Mining Equipment Market Characteristics3. Cryptocurrency Mining Equipment Market Trends and Strategies4. Cryptocurrency Mining Equipment Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Cryptocurrency Mining Equipment Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Cryptocurrency Mining Equipment Market34. Recent Developments in the Cryptocurrency Mining Equipment Market
5. Global Cryptocurrency Mining Equipment Growth Analysis and Strategic Analysis Framework
6. Cryptocurrency Mining Equipment Market Segmentation
7. Cryptocurrency Mining Equipment Market Regional and Country Analysis
8. Asia-Pacific Cryptocurrency Mining Equipment Market
9. China Cryptocurrency Mining Equipment Market
10. India Cryptocurrency Mining Equipment Market
11. Japan Cryptocurrency Mining Equipment Market
12. Australia Cryptocurrency Mining Equipment Market
13. Indonesia Cryptocurrency Mining Equipment Market
14. South Korea Cryptocurrency Mining Equipment Market
15. Western Europe Cryptocurrency Mining Equipment Market
16. UK Cryptocurrency Mining Equipment Market
17. Germany Cryptocurrency Mining Equipment Market
18. France Cryptocurrency Mining Equipment Market
19. Italy Cryptocurrency Mining Equipment Market
20. Spain Cryptocurrency Mining Equipment Market
21. Eastern Europe Cryptocurrency Mining Equipment Market
22. Russia Cryptocurrency Mining Equipment Market
23. North America Cryptocurrency Mining Equipment Market
24. USA Cryptocurrency Mining Equipment Market
25. Canada Cryptocurrency Mining Equipment Market
26. South America Cryptocurrency Mining Equipment Market
27. Brazil Cryptocurrency Mining Equipment Market
28. Middle East Cryptocurrency Mining Equipment Market
29. Africa Cryptocurrency Mining Equipment Market
30. Cryptocurrency Mining Equipment Market Competitive Landscape and Company Profiles
31. Cryptocurrency Mining Equipment Market Other Major and Innovative Companies
35. Cryptocurrency Mining Equipment Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Cryptocurrency Mining Equipment Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on cryptocurrency mining equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for cryptocurrency mining equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cryptocurrency mining equipment market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Equipment: Graphics Processing Units (GPUs); Field Programmable Gate Arrays (FPGAs); Application-Specific Integrated Circuits (ASICs); PC or CPU Mining2) by Coin: Bitcoin; Ripple; Ethereum
3) by Application: Remote Hosting Services; Cloud Mining; Self Mining
Subsegments:
1) by Graphics Processing Units (GPUs): Gaming GPUs; Mining-Specific GPUs2) by Field Programmable Gate Arrays (FPGAs): Custom FPGA Boards; Pre-configured FPGA Miners
3) by Application-Specific Integrated Circuits (ASICs): Bitcoin Miners; Altcoin Miners; Multi-Currency Miners
4) by PC or CPU Mining: Standard CPUs; Mining-Rig Configurations
Key Companies Mentioned: Advanced Micro Devices Inc.; Russian Miner Coin; Halong Mining; Zhejiang Ebang Communication Co. Ltd.; NVIDIA Graphics Pvt. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Cryptocurrency Mining Equipment market report include:- Advanced Micro Devices Inc.
- Russian Miner Coin
- Halong Mining
- Zhejiang Ebang Communication Co. Ltd.
- NVIDIA Graphics Pvt. Ltd.
- Bitmain Technologies Ltd.
- Taiwan Semiconductor Manufacturing Company
- Canaan Creative Co. Ltd.
- Bitfury
- Samsung Group
- SBI Holdings
- GlobalFoundries
- United Microelectronics Corporation (UMC)
- Bitfarms Ltd.
- Intel Corporation
- Northern Data AG
- DMG Blockchain Solutions Inc.
- Holicity Inc.
- Greenidge Generation Holdings Inc.
- Digihost Technology Inc.
- CleanSpark Inc.
- Bit Digital Inc.
- Core Scientific Holding Co.
- Stronghold Digital Mining Inc.
- Bit5ive LLC
- Blockcap Inc.
- Foundry Digital LLC
- Luxor Technologies Inc.
- Compute North LLC
- Gryphon Digital Mining Inc.
- BitRiver AG
- Compass Mining Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 5.13 Billion |
| Forecasted Market Value ( USD | $ 6.56 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 33 |
