Cryptocurrency Mining Market Report 2025 (Global Edition)

Global Cryptocurrency Mining Market Report 2025 Market Size Split by Mining Enterprise (Large Miners, Small Miners), by Revenue Source (Transaction Fees, Block Rewards), by Mining Type (Self-mining, C...

Cryptocurrency Mining Market Report Description

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Cryptocurrency Mining Market Insights Video

Competitive Landscape of the Cryptocurrency Mining Market

The market's companies are concentrated on creating and providing various mining software and hardware solutions. Additionally, in order to improve their market positions, businesses are being forced by the intense rivalry in the industry to concentrate on several strategic initiatives.

• January 2022: TeraGo Inc.'s co-location and cloud computing businesses were acquired by Hut 8 Mining Corp. Including a full range of scalable cloud services, the acquisition consists of five data centers located in Canada. For that reason, this will assist the business in growing both its clientele and its business in the marketplace.

(Source:www.datacenterdynamics.com/en/news/crypto-mining-firm-hut-8-acquires-teragos-data-center-business/)

• August 2021: Announcing their acquisition of the three validators protecting the Ethereum Proof-of-Stake blockchain, iMining Technologies Inc. These three cloud-based, functional Eth2.0 validators are in use. As a result, the acquisition will aid in the company's growth by saving fees and weeks of staking rewards.

(Source:seekingalpha.com/news/3731512-imining-acquires-validators-securing-ethereum-proof-of-stake-blockchain)

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

• Canaan Inc.
• Argo Blockchain
• Riot Blockchain Inc.
• HIVE Blockchain Technologies Ltd.
• Bit Digital Inc.
• ViaBTC
• MININGSKY (a subsidiary of Skychain Technologies Inc.)
• F2Pool
• Braiins Systems s.r.o.
• Genesis Mining Ltd.
• BITMAIN Technologies Holding Company
• iMining Technologies Inc.
• Hut 8 Mining Corp.
• Miningstore.com
• INNOSILICON Technology Ltd.
• MinerGate
• ASICminer Company
• GMO Internet
• Shenzhen MicroBT Electronics Technology Co. Ltd
• Core Scientific
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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!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

North America dominated the market in 2023 and accounted for around 40% of the global revenue

According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue since the majority of people in that area saw bitcoins more as a means of exchanging taxes than as a means of monetary transaction. Although there are no legislative prohibitions on the use of electronic cash, many affluent nations nevertheless prioritize its use. Due to the acceptance of electronic money by both consumers and retailers, the market is expanding. Moreover, a number of well-known companies and the widespread use of cryptocurrency mining are the dominant factors in the North American market.

Asia Pacific is the fastest-growing category. Given that the Asia Pacific region accounts for more than half of the global bitcoin supply, mining is a significant industry there. Throughout the region, large data centers and cloud computing companies are mining cryptocurrencies. Moreover, the expansion of the cryptocurrency mining market in Asia-Pacific is also being pushed by the region's numerous ongoing projects as well as the existence of several well-known mining corporations.

The current report Scope analyzes Cryptocurrency Mining 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, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Cryptocurrency Mining

According to Cognitive Market Research, the global Cryptocurrency Mining market size was estimated at USD 1925.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 777.1 million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030. Cryptocurrency miners looking for economical operations are drawn to the area by its plentiful supply of comparatively cheap and reliable energy sources, such as hydroelectric power in Canada and renewable energy in various U.S. states. Furthermore, the regulatory framework that is favorable in several North American jurisdictions creates an environment that is favorable for mining operations. The increasing popularity and acceptability of cryptocurrencies is fueling the need for mining operations because of the potential financial gains and investment opportunities that come with this new world of digital assets. However, in the North American cryptocurrency mining market, the large miners category has grown significantly in the last several years. Driven by technological progress, advantageous regulatory frameworks, and growing institutional curiosity, these extensive mining ventures have extended their reach throughout the area.

Europe Cryptocurrency Mining

According to Cognitive Market Research, with a market value of USD 1925.2 million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030, Europe accounted for a share of over 30% of the global market size of USD 577.6 million. There is a rising need for mining operations as a result of cryptocurrencies becoming accepted and acknowledged as real financial assets. Furthermore, the Bitcoin community as a whole supports Europe's dedication to renewable energy sources as an environmentally responsible strategy. A favorable mining landscape and investor attraction are also fostered by the continent's stable economic climate and strong regulatory framework. However, in the European market for cryptocurrency mining, the category of remote hosting services has grown significantly in the last several years. Due to the numerous benefits that remote hosting solutions provide, miners are choosing them more and more as the demand for mining cryptocurrencies has increased. Furthermore, the increased security and dependability that remote hosting services frequently provide has added to their appeal.

Asia Pacific Cryptocurrency Mining

According to Cognitive Market Research, the global Cryptocurrency Mining market size was estimated at USD 1925.2 Million out of which Asia Pacific held the market of more than 23% of the global revenue with a market size of USD 442.8 million in 2023 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2023 to 2030. The region is a desirable site for energy-intensive mining activities because of its plentiful and reasonably priced energy supplies, especially in nations like China and Mongolia. Furthermore, the need for mining operations is rising because to the growing acceptability and adoption of cryptocurrencies in several Asia Pacific nations. The region's strong technological base and growing interest in blockchain technology contribute to the growth of the cryptocurrency mining industry. Moreover, the industry for cryptocurrency mining has seen a notable uptick in the Application-Specific Integrated Circuit (ASIC) category growth in the Asia Pacific area. ASICs are specialized hardware with greater processing power and energy efficiency that are intended for mining cryptocurrencies efficiently. In nations like China, where a sizable amount of global mining activity is concentrated, this trend is especially noticeable.

South America Cryptocurrency Mining

According to Cognitive Market Research, the global Cryptocurrency mining market size was estimated at USD 1925.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 96.3 million in 2023 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. The need for mining operations has increased due to the growing acceptance of cryptocurrencies as a form of alternative investment and payment. Some Latin American nations have improved their regulatory environments, which has drawn both domestic and foreign investors to the cryptocurrency mining industry. The demand for mining hardware and services has also been driven by the region's expanding tech-savvy population's increased awareness of and participation in the bitcoin ecosystem. Moreover, small miners are growing significantly in the Latin American cryptocurrency mining business. The region's plentiful energy resources and the growing popularity of virtual currencies have made it possible for these miners to start up and grow their businesses. Small-scale players can benefit from affordable solutions as technology breakthroughs increase mining efficiency.

Middle East Cryptocurrency Mining

According to Cognitive Market Research, the global Cryptocurrency Mining market size was estimated at USD 1925.2 Million out of which Middle East and Africa held the major market of more than 2% of the global revenue with a market size of USD 38.5 million in 2023 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030. The need for cryptocurrency mining operations is expanding as a result of the region's growing acceptance of digital currencies and increased knowledge of blockchain technology. Furthermore, those looking for alternatives to established banking institutions and financial inclusion find the decentralized structure of cryptocurrencies appealing. Together, these elements drive the cryptocurrency mining sector in the Middle East and Africa ahead, establishing the region as a rising force in the global crypto scene. Additionally, there has been a noticeable increase in the number of small miners looking for opportunities in the cryptocurrency mining business across the Middle East and Africa. People in the area are accepting cryptocurrency mining as a profitable investment due to rising technological understanding and accessibility. The market is expanding due to factors like a growing interest in decentralized financing and an abundance of renewable energy sources.

Cryptocurrency Mining Market Analysis

Cryptocurrency Mining Mining Enterprise Segment Analysis

According to Cognitive Market Research, small miners category held the major market share over the forecast period. A robust and varied mining environment is fostered by the decentralization ethos present in many blockchain networks, which encourages engagement from smaller miners. Additionally, lower entry barriers and improvements in mining software and hardware enable private miners to mine cryptocurrencies. 

Large miners is the fastest-growing category over the forecast period. Because cryptography challenges are becoming more and more complicated, larger mining operations with significant resources and cutting-edge technology are preferred because they require powerful and sophisticated hardware. Furthermore, economies of scale are essential because they allow larger miners to take advantage of lower per-unit expenses for maintenance, equipment, and electricity.

• Large Miners 
• Small Miners

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Cryptocurrency Mining Industry. Request a Free Sample PDF!

Cryptocurrency Mining Revenue Source Segment Analysis

According to Cognitive Market Research, adults hold a prominent market share. Considerations including network congestion, block size limitations, and user preferences impact the market dynamics of transaction fees. As a result of miners prioritizing transactions with higher fees, fees may rise in response to increased demand for transactions. 

Block reward is the fastest-growing category over the forecast period. Factors including the general demand and adoption of the particular cryptocurrency, the necessary degree of network security, and the rarity of the digital asset are some of the market drivers for block rewards in cryptocurrency mining. Block rewards for miners become a major source of financial incentive when the demand for a particular cryptocurrency increases, which has an impact on the mining ecosystem as a whole.

• Transaction Fees 
• Block Rewards

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

Cryptocurrency Mining Mining Type Segment Analysis

According to Cognitive Market Research, remote hosting services category hold a prominent market share. Miners are looking for more effective and affordable solutions due to the growing complexity of mining procedures and the significant energy consumption involved in cryptocurrency mining. By providing access to sophisticated infrastructure and well-designed setups, remote mining services allow miners to get around geographical restrictions and take advantage of economies of scale.

Cloud mining services are the fastest-growing category over the forecast period. Cloud mining services frequently provide affordable options, lowering the entrance barriers for investors and hobbyists. Because of its affordability, mining activity may grow, which would improve the network's stability and hash rate overall.

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

Cryptocurrency Mining Hardware Segment Analysis

According to Cognitive Market Research, ASIC category hold a prominent market share. For mining activities to be efficient, specialized gear is required due to the ever-increasing complexity of cryptographic problems in popular blockchain networks. ASICs optimize power consumption in comparison to conventional mining techniques, which further contributes to energy efficiency, a critical problem in the cryptocurrency field. 

The CPU is the fastest-growing category over the forecast period. Processor efficiency for mining operations has increased due to technological developments, specifically in CPU architecture that have improved processing capacity. Furthermore, there is a greater need for strong CPUs due to the rising popularity of cryptocurrencies like Monero that can be mined using a computer.

• ASIC
• GPU
• CPU
• 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 & Transportation vertical.

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