Global Cryptocurrency Mining Hardware Market 2023-2027

Global Cryptocurrency Mining Hardware Market 2023-2027

Technavio has been monitoring the cryptocurrency mining hardware market and it is poised to grow by $12053.16 mn during 2023-2027, accelerating at a CAGR of 11.35% during the forecast period. Our report on the cryptocurrency mining hardware market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the profitability of cryptocurrency mining ventures, the growing demand for cryptocurrency-specific hardware, and the rising popularity of mining pools.

Technavio's cryptocurrency mining hardware market is segmented as below:

By Product

  • ASIC
  • GPU
  • Others
By Application
  • Bitcoin mining
  • Ethereum mining
  • Others
By Geographical Landscape
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa
This study identifies the acceptance of cryptocurrency by retailers as one of the prime reasons driving the cryptocurrency mining hardware market growth during the next few years. Also, investments by large semiconductor companies in mining-specific hardware and people's inclination toward digital currency will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the cryptocurrency mining hardware market covers the following areas:
  • Cryptocurrency mining hardware market sizing
  • Cryptocurrency mining hardware market forecast
  • Cryptocurrency mining hardware market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cryptocurrency mining hardware market vendors that include Argo Blockchain Plc, BIT Digital Inc., Bitfarms Ltd., BitMain Group, Canaan Inc., Ebang International Holdings Inc., Elite Mining Inc., ePIC Blockchain Technologies Inc., Genesis Mining Ltd., GMO Internet Group Inc., Helium Systems Inc., HIVE Blockchain Technologies Ltd., Hut 8 Mining Corp., Intelion Mine LLC, Marathon Digital Holdings Inc., NiceHash Ltd., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen Jingang Zhuoyue Co., Ltd, Shenzhen MicroBT Electronics Technology Co. Ltd, and Spondoolies Ltd. Also, the cryptocurrency mining hardware market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.


  • Executive Summary
    • Market overview
      • Table Executive Summary - Chart on Market Overview
      • Table Executive Summary - Data Table on Market Overview
      • Table Executive Summary - Chart on Global Market Characteristics
      • Table Executive Summary - Chart on Market by Geography
      • Table Executive Summary - Chart on Market Segmentation by Product
      • Table Executive Summary - Chart on Market Segmentation by Application
      • Table Executive Summary - Chart on Incremental Growth
      • Table Executive Summary - Data Table on Incremental Growth
      • Table Executive Summary - Chart on Vendor Market Positioning
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market Characteristics
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2022
    • Market outlook: Forecast for 2022-2027
      • Table Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Table Data Table on Global Market: Year-over-year growth 2022-2027 (%)
  • Historic Market Size
    • Global cryptocurrency mining hardware market 2017 - 2021
      • Table Historic Market Size - Data table on global cryptocurrency mining hardware market 2017 - 2021 ($ million)
    • Product Segment Analysis 2017 - 2021
      • Table Historic Market Size - Product Segment 2017 - 2021 ($ million)
    • Application Segment Analysis 2017 - 2021
      • Table Historic Market Size - Application Segment 2017 - 2021 ($ million)
    • Geography Segment Analysis 2017 - 2021
      • Table Historic Market Size - Geography Segment 2017 - 2021 ($ million)
    • Country Segment Analysis 2017 - 2021
      • Table Historic Market Size - Country Segment 2017 - 2021 ($ million)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis - Comparison between2022 and 2027
    • Bargaining power of buyers
      • Table Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers - Impact of key factors in 2022 and 2027
    • Threat of new entrants
      • Table Threat of new entrants - Impact of key factors in 2022 and 2027
    • Threat of substitutes
      • Table Threat of substitutes - Impact of key factors in 2022 and 2027
    • Threat of rivalry
      • Table Threat of rivalry - Impact of key factors in 2022 and 2027
    • Market condition
      • Table Chart on Market condition - Five forces 2022 and 2027
  • Market Segmentation by Product
    • Market segments
      • Table Chart on Product - Market share 2022-2027 (%)
      • Table Data Table on Product - Market share 2022-2027 (%)
    • Comparison by Product
      • Table Chart on Comparison by Product
      • Table Data Table on Comparison by Product
    • ASIC - Market size and forecast 2022-2027
      • Table Chart on ASIC - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on ASIC - Market size and forecast 2022-2027 ($ million)
      • Table Chart on ASIC - Year-over-year growth 2022-2027 (%)
      • Table Data Table on ASIC - Year-over-year growth 2022-2027 (%)
    • GPU - Market size and forecast 2022-2027
      • Table Chart on GPU - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on GPU - Market size and forecast 2022-2027 ($ million)
      • Table Chart on GPU - Year-over-year growth 2022-2027 (%)
      • Table Data Table on GPU - Year-over-year growth 2022-2027 (%)
    • Others - Market size and forecast 2022-2027
      • Table Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Others - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Others - Year-over-year growth 2022-2027 (%)
    • Market opportunity by Product
      • Table Market opportunity by Product ($ million)
  • Market Segmentation by Application
    • Market segments
      • Table Chart on Application - Market share 2022-2027 (%)
      • Table Data Table on Application - Market share 2022-2027 (%)
    • Comparison by Application
      • Table Chart on Comparison by Application
      • Table Data Table on Comparison by Application
    • Bitcoin mining - Market size and forecast 2022-2027
      • Table Chart on Bitcoin mining - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Bitcoin mining - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Bitcoin mining - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Bitcoin mining - Year-over-year growth 2022-2027 (%)
    • Ethereum mining - Market size and forecast 2022-2027
      • Table Chart on Ethereum mining - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Ethereum mining - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Ethereum mining - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Ethereum mining - Year-over-year growth 2022-2027 (%)
    • Others - Market size and forecast 2022-2027
      • Table Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Others - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Others - Year-over-year growth 2022-2027 (%)
    • Market opportunity by Application
      • Table Market opportunity by Application ($ million)
  • Customer Landscape
    • Customer landscape overview
      • Table Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • Geographic Landscape
    • Geographic segmentation
      • Table Chart on Market share by geography 2022-2027 (%)
      • Table Data Table on Market share by geography 2022-2027 (%)
    • Geographic comparison
      • Table Chart on Geographic comparison
      • Table Data Table on Geographic comparison
    • North America - Market size and forecast 2022-2027
      • Table Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Table Chart on North America - Year-over-year growth 2022-2027 (%)
      • Table Data Table on North America - Year-over-year growth 2022-2027 (%)
    • Europe - Market size and forecast 2022-2027
      • Table Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • APAC - Market size and forecast 2022-2027
      • Table Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Table Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Table Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • South America - Market size and forecast 2022-2027
      • Table Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Table Chart on South America - Year-over-year growth 2022-2027 (%)
      • Table Data Table on South America - Year-over-year growth 2022-2027 (%)
    • Middle East and Africa - Market size and forecast 2022- 2027
      • Table Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • US - Market size and forecast 2022-2027
      • Table Chart on US - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Table Chart on US - Year-over-year growth 2022-2027 (%)
      • Table Data Table on US - Year-over-year growth 2022-2027 (%)
    • China - Market size and forecast 2022-2027
      • Table Chart on China - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Table Chart on China - Year-over-year growth 2022-2027 (%)
      • Table Data Table on China - Year-over-year growth 2022-2027 (%)
    • Russia - Market size and forecast 2022-2027
      • Table Chart on Russia - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Russia - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Russia - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Russia - Year-over-year growth 2022-2027 (%)
    • Germany - Market size and forecast 2022-2027
      • Table Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • Ireland - Market size and forecast 2022-2027
      • Table Chart on Ireland - Market size and forecast 2022-2027 ($ million)
      • Table Data Table on Ireland - Market size and forecast 2022-2027 ($ million)
      • Table Chart on Ireland - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Ireland - Year-over-year growth 2022-2027 (%)
    • Market opportunity by geography
      • Table Market opportunity by geography ($ million)
  • Drivers, Challenges, and Trends
    • Market drivers
      • Profitability of cryptocurrency mining ventures
      • Growing demand for cryptocurrency-specific hardware
      • Rising popularity of mining pools
    • Market challenges
      • Volatility in value of cryptocurrency
      • Operational complications associated with mining cryptocurrency
      • Lack of government support
    • Impact of drivers and challenges
      • Table Impact of drivers and challenges in 2022 and 2027
    • Market trends
      • Acceptance of cryptocurrency by retailers
      • Investments by large semiconductor companies in mining-specific hardware
      • People's inclination toward digital currency
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Overview on Criticality of inputs and Factors of differentiation
    • Landscape disruption
      • Table Overview on factors of disruption
    • Industry risks
      • Table Impact of key risks on business
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Matrix on vendor position and classification
    • BIT Digital Inc.
      • Table BIT Digital Inc. - Overview
      • Table BIT Digital Inc. - Product / Service
      • Table BIT Digital Inc. - Key offerings
    • BitMain Group
      • Table BitMain Group - Overview
      • Table BitMain Group - Product / Service
      • Table BitMain Group - Key offerings
    • Canaan Inc.
      • Table Canaan Inc. - Overview
      • Table Canaan Inc. - Product / Service
      • Table Canaan Inc. - Key offerings
    • Ebang International Holdings Inc.
      • Table Ebang International Holdings Inc. - Overview
      • Table Ebang International Holdings Inc. - Product / Service
      • Table Ebang International Holdings Inc. - Key offerings
    • Elite Mining Inc.
      • Table Elite Mining Inc. - Overview
      • Table Elite Mining Inc. - Product / Service
      • Table Elite Mining Inc. - Key offerings
    • ePIC Blockchain Technologies Inc.
      • Table ePIC Blockchain Technologies Inc. - Overview
      • Table ePIC Blockchain Technologies Inc. - Product / Service
      • Table ePIC Blockchain Technologies Inc. - Key offerings
    • Helium Systems Inc.
      • Table Helium Systems Inc. - Overview
      • Table Helium Systems Inc. - Product / Service
      • Table Helium Systems Inc. - Key offerings
    • HIVE Blockchain Technologies Ltd.
      • Table HIVE Blockchain Technologies Ltd. - Overview
      • Table HIVE Blockchain Technologies Ltd. - Product / Service
      • Table HIVE Blockchain Technologies Ltd. - Key offerings
    • Hut 8 Mining Corp.
      • Table Hut 8 Mining Corp. - Overview
      • Table Hut 8 Mining Corp. - Product / Service
      • Table Hut 8 Mining Corp. - Key offerings
    • Intelion Mine LLC
      • Table Intelion Mine LLC - Overview
      • Table Intelion Mine LLC - Product / Service
      • Table Intelion Mine LLC - Key offerings
    • Marathon Digital Holdings Inc.
      • Table Marathon Digital Holdings Inc. - Overview
      • Table Marathon Digital Holdings Inc. - Product / Service
      • Table Marathon Digital Holdings Inc. - Key offerings
    • Riot Blockchain Inc.
      • Table Riot Blockchain Inc. - Overview
      • Table Riot Blockchain Inc. - Business segments
      • Table Riot Blockchain Inc. - Key offerings
      • Table Riot Blockchain Inc. - Segment focus
    • Shenzhen Fusionsilicon Semiconductor Co. Ltd.
      • Table Shenzhen Fusionsilicon Semiconductor Co. Ltd. - Overview
      • Table Shenzhen Fusionsilicon Semiconductor Co. Ltd. - Product / Service
      • Table Shenzhen Fusionsilicon Semiconductor Co. Ltd. - Key offerings
    • Shenzhen Jingang Zhuoyue Co., Ltd
      • Table Shenzhen Jingang Zhuoyue Co., Ltd - Overview
      • Table Shenzhen Jingang Zhuoyue Co., Ltd - Product / Service
      • Table Shenzhen Jingang Zhuoyue Co., Ltd - Key offerings
    • Spondoolies Ltd.
      • Table Spondoolies Ltd. - Overview
      • Table Spondoolies Ltd. - Product / Service
      • Table Spondoolies Ltd. - Key offerings
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Inclusions and exclusions checklist
      • Table Inclusions checklist
      • Table Exclusions checklist
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings