Cryptocurrency Mining Hardware Market Report 2025 (Global Edition)

Global Cryptocurrency Mining Hardware Market Report 2025 Market Size Split by Type (Central Processing Unit, Graphics Processing Unit, Application-Specific Integrated Circuit, Field Programmable Gate ...

Cryptocurrency Mining Hardware Market Report Description

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Imapct of Trumph Tariff on Electronics and Electrical Industry

In 2025, global trade has entered a period of renewed volatility as the U.S., under President Donald Trump, introduced sweeping tariffs known as the Liberation Day Tariffs. Aimed at addressing trade imbalances and foreign supply chain dominance, the tariffs range from 10% on allies like Australia and the UK to 46% on Vietnamese goods and 34% on Chinese imports. A 25% universal tariff on steel, aluminum, and auto parts has further strained global trade ties. The electronics sector is among the hardest hit, particularly due to the escalating U.S.China trade war. Tariffs on Chinese goods now reach up to 145% in sectors like semiconductors and consumer electronics, while China has retaliated with up to 125% duties and restrictions on critical mineral exports. This has disrupted just-in-time supply chains and increased component costs.

Specific tariffs include 25% on semiconductors, 20% on lithium-ion batteries, and 10–15% on consumer electronics like laptops and tablets, leading to higher retail prices and reduced consumer demand. Sub-sectors such as home automation, computer hardware, communication electronics, medical devices, and industrial electronics are all under pressure due to rising input costs and supply chain delays. Companies are revisiting suppliers, shifting sourcing to countries like India, Mexico, and Vietnam, and redesigning products to avoid high-tariff components.

China remains a key player, contributing USD 119 billion in electronics exports to the U.S. in 2023. Even components routed through countries like Malaysia and Vietnam often rely on Chinese subparts, making the ripple effect of tariffs widespread. U.S. electronics firms operating on thin margins are seeing input costs rise 18–25%, with contract manufacturers in alternative regions facing capacity constraints.

Market research is now critical. It helps companies identify new suppliers, analyze cost trends, optimize product design, forecast demand shifts, and track regulatory changes. Tools like supplier mapping, BOM optimization, and scenario planning support strategic responses to ongoing disruptions. Leading firms like Apple and Dell are expanding production outside China, while others invest in digital supply chain tools and redesign products for cost resilience. In this evolving trade environment, firms that leverage research-driven strategies are better positioned to adapt and thrive.

Cryptocurrency Mining Hardware Market Insights Video

Competitive Landscape of the Cryptocurrency Mining Hardware Market

The competitive landscape of the Cryptocurrency Mining Hardware Market is characterized by a range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established electronics manufacturers, specialized smokeless powder companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

May 2024: Bitfury Group, a leading full-service blockchain technology company, has announced the allocation of the remaining approximately 18.5 million shares it holds in Cipher Mining, Inc. These shares have been placed into a share reserve for the benefit of both current and former Bitfury employees, consultants, and advisors who are participants in Bitfury's long-term incentive plans, in line with previously outlined plans. (Source: https://www.prnewswire.com/news-releases/bitfury-group-commences-next-step-of-non-dilutive-distribution-of-cipher-mining-inc-shares-302147756.html) July 2024: MicroBT, a Chinese Bitcoin ASIC chip designer and manufacturer, launched new models in its WhatsMiner M60 series with an efficiency of 17 J/TH. At Bitcoin 2024 in Nashville, CEO Dr. Yang Zuoxing introduced the air-cooled M60S+, hydro-cooled M63S+, and immersion-cooled M66S+ models, known as the M6XS+ series. (Source: https://theminermag.com/news/2024-07-26/microbt-bitcoin-whatsminer/) August 2024: NVIDIA GPUs are driving advancements in various industries through A.I. technology, leading to a surge in demand for graduates, particularly those with STEM backgrounds skilled in utilizing these technologies. As a result, millions of students globally are enrolling in STEM programs at universities to acquire the skills needed for successful careers in this evolving field. (Source: https://blogs.nvidia.com/blog/ai-decoded-stem/)

Top Companies Market Share in Cryptocurrency Mining Hardware Industry: (In no particular order of Rank)

• Bitmain Technologies Ltd.
• Canaan Inc.
• Ebang International Holdings Inc.
• Bitfury Group Limited
• Innosilicon Technology Ltd.
• Micro BT (Shenzhen Bit Microelectronics Technology Co.
• Ltd.)
• ASICminer Company
• Halong Mining
• ASICrising GmbH
• NVIDIA Corporation
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Cryptocurrency Mining Hardware Market

Which Region Dominates the Cryptocurrency Mining Hardware Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. North America dominates the Cryptocurrency Mining Hardware Market due to its advanced technological infrastructure and significant investment in digital asset mining. The region's robust financial and tech sectors drive high demand for sophisticated mining hardware.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is the fastest-growing market for cryptocurrency mining hardware due to its large population of tech-savvy users and increasing investments in blockchain technology. Countries like China and India are major contributors, driven by favorable government policies and growing interest in cryptocurrencies.

The current report Scope analyzes Cryptocurrency Mining Hardware Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Cryptocurrency Mining Hardware Market Analysis

According to Cognitive Market Research, the global Cryptocurrency Mining Hardware Market size was estimated at USD 2251.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 900.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

• According to Cognitive Market Research, the U.S. had a major share in the Cryptocurrency Mining Hardware Market with a market size of USD 710.57 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. The United States leads due to its well-established infrastructure and large-scale institutional mining operations.
• The Canada Cryptocurrency Mining Hardware Market had a market share of USD 108.07 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Canada is rapidly expanding its mining activities, driven by its access to affordable and renewable energy sources.
• The Mexico Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 81.95 million in 2024.

Europe Cryptocurrency Mining Hardware Market Analysis

According to Cognitive Market Research, the global Cryptocurrency Mining Hardware Market size was estimated at USD 2251.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 675.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.

• The United Kingdom's Cryptocurrency Mining Hardware Market had a market share of USD 113.48 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. The U.K. is the fastest-growing country in the Cryptocurrency Mining Hardware Market due to its increasing adoption of digital currencies and supportive regulatory environment for blockchain technology.
• The French cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 62.14 million in 2024.
• According to Cognitive Market Research, the German Cryptocurrency Mining Hardware Market size was valued at USD 133.74 million in 2024 and is projected to grow at a CAGR of 7.2% during the forecast period. Germany is dominant, benefiting from its advanced technology sector and regulatory support for blockchain initiatives .
• The Italy Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 6.4% during the forecast period, with a market size of USD 58.09 million in 2024.
• The Russian cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 104.69 million in 2024.
• The Spain Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 55.39 million in 2024
• The Luxembourg Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 20.94 million in 2024.
• The Portugal Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 14.18 million in 2024.
• The Greece Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 8.11 million in 2024.
• Rest of Europe's Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 104.69 million in 2024.

Asia Pacific Cryptocurrency Mining Hardware Market Analysis

According to Cognitive Market Research, the global Cryptocurrency Mining Hardware Market size was estimated at USD 2251.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 517.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Cryptocurrency Mining Hardware Market size was valued at USD 233.03 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. China dominates due to its significant mining capacity and availability of low-cost hardware.
• The Japan Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 71.46 million in 2024.
• The India Cryptocurrency Mining Hardware Market had a market share of USD 62.14 million in 2024 and is projected to grow at a CAGR of 12.3% during the forecast period. India is the fastest growing, with increasing investments in blockchain technology and rising interest in cryptocurrencies.
• The South Korean Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 51.78 million in 2024.
• The Australian Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 26.93 million in 2024.
• The South East Asia Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 35.73 million in 2024.
• The Rest of Asia Pacific Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 36.77 million in 2024.

South America Cryptocurrency Mining Hardware Market Analysis

According to Cognitive Market Research, the global Cryptocurrency Mining Hardware Market size was estimated at USD 2251.5 Million, out of which the Latin America market has more than 5% share of the global revenue with a market size of USD 112.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Cryptocurrency Mining Hardware Market size was valued at USD 48.18 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. Brazil leads, driven by the growing adoption of digital currencies and supportive regulatory frameworks.
• Argentina's Cryptocurrency Mining Hardware Market had a market share of USD 18.91 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. Argentina is rapidly growing, with more individuals engaging in mining as a hedge against economic instability.
• Colombia's Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 10.02 million in 2024.
• Peru Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 9.23 million in 2024.
• Chile's Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 8.11 million in 2024.
• The Rest of Latin America's Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 18.12 million in 2024.

Middle East Cryptocurrency Mining Hardware Market Analysis

According to Cognitive Market Research, the global Cryptocurrency Mining Hardware Market size was estimated at USD 2251.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 45.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031..

• The GCC Countries Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 19.27 million in 2024. The UAE is the dominant country in the GCC Cryptocurrency Mining Hardware Market due to its progressive regulatory framework and strong investment in blockchain technology.
• The Egypt Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 4.73 million in 2024.
• The South Africa Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 7.11 million in 2024. South Africa is the fastest-growing country in the Cryptocurrency Mining Hardware Market, driven by increasing adoption of cryptocurrencies and growing interest in blockchain solutions.
• The Turkey Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 3.87 million in 2024.
• The Nigeria Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 4.73 million in 2024.
• The Rest of MEA Cryptocurrency Mining Hardware Market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 5.31 million in 2024.

Cryptocurrency Mining Hardware Market Analysis

Cryptocurrency Mining Hardware Market Type Segment Analysis

According to Cognitive Market Research, the Application-Specific Integrated Circuit (ASIC) segment is the dominant category in the Cryptocurrency Mining Hardware Market. ASIC miners are designed specifically for cryptocurrency mining, providing high efficiency and performance compared to other types of hardware. Their specialized nature allows for faster and more energy-efficient processing of cryptographic algorithms, which is crucial for successful mining operations. The dominance of ASICs is driven by their ability to deliver higher hash rates and lower operational costs, making them the preferred choice for large-scale mining operations and professional miners seeking optimal performance and profitability.

The Graphics Processing Unit (GPU) segment is the fastest-growing category in the Cryptocurrency Mining Hardware Market. GPUs, known for their versatility and adaptability, can mine a wide range of cryptocurrencies and adjust to various mining algorithms. This flexibility, combined with ongoing technological advancements, has spurred their increasing popularity among both individual and commercial miners. GPUs offer a balance between performance and cost, making them an attractive option for new and experienced miners alike. As cryptocurrency mining evolves, the demand for GPUs is expected to continue growing, reflecting their expanding role in the market.

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Cryptocurrency Mining Hardware Market Application Segment Analysis

According to Cognitive Market Research, the Enterprise segment dominates the Cryptocurrency Mining Hardware Market, driven by large-scale mining operations and institutional investments in cryptocurrencies. Enterprises invest heavily in advanced mining hardware, such as ASICs and GPUs, to maximize their mining efficiency and profitability. These large-scale operations require substantial computational power and energy resources, making them key players in the market. Additionally, the rise of cryptocurrency-focused data centers and mining farms has further strengthened the enterprise segment's dominance as businesses seek to capitalize on the growing value of digital currencies and blockchain technology.

The Personal segment is the fastest-growing category in the Cryptocurrency Mining Hardware Market, fueled by the increasing interest of individual miners and small-scale investors. As cryptocurrencies gain popularity as an alternative investment, more individuals are engaging in mining activities to earn rewards. The availability of affordable and user-friendly mining hardware has made it easier for personal users to participate in cryptocurrency mining. Additionally, the flexibility of mining at home and the potential for passive income attract a growing number of hobbyists and tech enthusiasts, contributing to the rapid expansion of the personal segment.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Cryptocurrency Mining Hardware Currency Segment Analysis

Cryptocurrency Mining Hardware Market Currency Segment Analysis

According to Cognitive Market Research, Bitcoin (BTC) is the dominant category in the Cryptocurrency Mining Hardware Market due to its status as the first and most widely recognized cryptocurrency. Bitcoin mining requires significant computational power, leading to the development of specialized hardware such as ASICs, which are highly optimized for BTC mining. The robust infrastructure supporting Bitcoin, including extensive mining pools and a global network of miners, further reinforces its dominance. As Bitcoin remains the leading cryptocurrency by market capitalization, the demand for Bitcoin-specific mining hardware continues to drive the market, making BTC the dominant category in this sector.

Ethereum (ETH) is the fastest-growing category in the Cryptocurrency Mining Hardware Market, driven by its expanding ecosystem of decentralized applications (DApps) and smart contracts. Unlike Bitcoin, Ethereum can be mined using both GPUs and ASICs, making it accessible to a broader range of miners. The transition to Ethereum 2.0 and the Proof of Stake (PoS) mechanism has fueled demand for more efficient mining hardware during the ongoing Proof of Work (PoW) phase. As Ethereum continues to innovate and attract developers, the market for Ethereum mining hardware is expected to grow rapidly, outpacing other categories.

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• Binance Coin (BNB)
• Others

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

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