North America Cryptocurrency Mining Market to Grasp Outstanding CAGR of 9.1% by 2029, Trends, Opportunities, Key Drivers and Growth Prospectus

The North America Cryptocurrency Mining Market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 9.1% in the forecast period of 2022 to 2029 and expected to reach USD 725.96 million by 2029.

Cryptocurrency mining is the process of creating new bitcoin by solving puzzles. Miners have become very sophisticated over the past several years, using complex machinery to speed up mining operations. Because of this, the companies are coming up with advanced mining machines for their customers. In addition, some companies are collaborating with other companies to provide different services to the customers. Thus as the demand for a mining pool is increasing in the market, the demand for advanced mining machines is also increasing. However, the high transaction fees related to it may hamper the growth of the market.

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North America Cryptocurrency Mining Market Analysis:

This North America Cryptocurrency Mining Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the North America Cryptocurrency Mining market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Key players operating in the North America Cryptocurrency Mining market include:

Some of the major players operating in the cryptocurrency mining market are Canaan Inc., Argo Blockchain, HIVE Blockchain Technologies Ltd., Bit Digital, Inc., Riot Blockchain, Inc., ViaBTC, Braiins Systems s.r.o., F2Pool, Genesis Mining Ltd., BITMAIN Technologies Holding Company, Hut 8 Mining Corp., Miningstore.com, MININGSKY (a subsidiary of Skychain Technologies Inc.), iMining Technologies Inc., MinerGate, ASICminer Company, INNOSILICON Technology Ltd., Shenzhen MicroBT Electronics Technology Co., Ltd, GMO Internet, Core Scientific, among others.

Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the cryptocurrency mining market.

Recent Development:

• In January 2022, Hut 8 Mining Corp. announced that they had acquired the cloud and co-location data center business of TeraGo Inc. The acquisition comprises five data centers in Canada, which include a complete selection of scalable cloud services. Thus this will help the company to expand its business and customer base in the market
• In August 2021, iMining Technologies Inc. announced that they had acquired the three validators securing the Ethereum Proof-of-Stake blockchain. These three Eth2.0 validators are cloud-based and are operational. Thus, the acquisition will help the company to save fees and weeks of staking rewards, helping in companies growth

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North America Cryptocurrency Mining Market Segmentations:

• Based on the mining enterprise, the cryptocurrency mining market is segmented into large miners and small miners. In 2022, the large miners’ segment is expected to dominate the global cryptocurrency mining market, as it is good for cryptocurrency because they have inspired further innovation. In addition, it reduces centralization and market cornering.
• Based on revenue source, the cryptocurrency mining market is segmented into transaction fees and block rewards. In 2022, the block rewards segment is anticipated to dominate the global cryptocurrency mining market, as it is a reward given to the miner to compensate them for their efforts in mining the block.
• Based on mining type, the cryptocurrency mining market is segmented into self-mining, cloud mining services, and remote hosting services. In 2022, the remote hosting services segment is anticipated to dominate the market as several miners combine their effort and resources over a network and mine cryptocurrency with much more computational power.
• Based on hardware, the cryptocurrency mining market is segmented into ASIC, GPU, CPU, and others. In 2022, ASIC is anticipated to dominate the market, as it is the most energy-efficient of all other miners. In addition, it provides high hash rates and enhances the earning prospects of investors, which is expected to raise its demand in the market.

North America Cryptocurrency Mining Market Country Level Analysis

The countries covered in the cryptocurrency mining market report are the U.S., Canada, Mexico.

The U.S. dominates the North American region due to the increased adoption from payment applications like PayPal will give far more people easy access to cryptocurrency.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

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Table of Content: North America Cryptocurrency Mining Market

1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Market Overview
6. North America Cryptocurrency Mining Market, By Types
7. North America Cryptocurrency Mining Market, By Application
8. North America Cryptocurrency Mining Market, By End User
9. North America Cryptocurrency Mining Market, Company Landscape
10. SWOT Analysis
11. Company Profile
12. Questionnaire
13. Related Reports

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