Market Research Report

ASIC Bitcoin Mining Hardware Market, Global Outlook and Forecast 2023-2029

  • AMR ID : 7-19745
  • CAT ID : 6
  • Pages : 117
  • Date : Jun 2023
 

The global ASIC Bitcoin Mining Hardware market was valued at US$ 8858.9 million in 2022 and is projected to reach US$ 16090 million by 2029, at a CAGR of 8.9% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The key manufacturers of ASIC Bitcoin Mining Hardware in the world are BitMain, Canaan, MicroBT, Ebang, AGMH, Bee Computing, and Innosilicon, among which the top three manufacturers hold over 95% of the market share, with BitMain being the largest producer. The production of global ASIC Bitcoin mining hardware is mainly distributed in North America, Europe, and China, with the top three production regions accounting for over 90% of the market share. Currently, China is the largest production region. In terms of product types, ETH has a relatively rapid growth rate, but BTC has a high market share of more than 90%, followed by LTC and ETH. In terms of its application, mining farm is the largest field, with a market share of nearly 70%, followed by mining pool service providers.
Specialized IC chips are known as ASIC chips. An ASIC chip are generally customized to process a particular application but has little flexibility for general use, which are increasingly employed in blockchain and many other cutting-edge technologies. Its estimated growth from 2023 to 2029 is expected to be at a CAGR of 10.5%, higher than other types of ICs.
ASIC chips offer stronger computing power and are more energy-efficient than chips for general use in running particular applications they are customized for. Therefore, ASIC chips are widely used in cryptocurrency mining, and ASIC chip designers are major participants in the Bitcoin mining machine industry.
Several entry barriers exist for ASIC chip designers, including design expertise, long development time and high fixed cost. With respect to expertise, ASIC chips are narrowly targeted and have little flexibility and so ASIC chip designers need to have precise and in-depth understanding of the applications being designed. Additionally, ASIC chip designers need to have expertise across a range of domains include programming, integrated circuit production and semiconductor technology in order to understand how to efficiently design an ASIC chip to be integrated into a Bitcoin mining machine. Because of this complexity, designing ASIC chips also requires an enormous input of time to experiment with the specifications and physical design. The typical design cycle takes 12 to 24 months. This also means that ASIC chip design has a high fixed cost in order to experiment for this length of time. Moreover, ASIC chip designers need to be precise in their estimates of market demand so that they do not overspend on the development.
Key performance metrics of Bitcoin mining machines typically include the following:
Computing power. Computing power determines how quickly a Bitcoin mining machine can process a transaction, and is also known as the “hash rate” or “hash power”. It is evaluated both at the maximum level of computing power and its ability to maintain that level of power. Users may form mining pools with multiple Bitcoin mining machines to increase their collective hash power.
Efficiency. Another key property of Bitcoin mining machines is efficiency, which refers to the amount of power used in relation to the computing power. An efficient Bitcoin mining machine needs to have computing power that is sufficient to generate rewards greater than the cost of the power consumed.
Heat reduction. Because Bitcoin mining machines use a great deal of power, heat reduction is a concern since users may need to expend extra energy costs to keep the Bitcoin mining machines cool enough to avoid overheating.
Others. Other factors that users may consider include the size and weight of the Bitcoin mining machine, its noise level and whether it is complicated to assemble.
ASIC Bitcoin mining hardware comes in many different shapes and sizes, with varying levels of processing power and energy consumption. Some of the most popular ASIC Bitcoin mining hardware manufacturers include Bitmain, Canaan, and MicroBT. These companies produce ASICs that range from small, consumer-grade devices to large, industrial-scale mining farms.
This report aims to provide a comprehensive presentation of the global market for ASIC Bitcoin Mining Hardware, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding ASIC Bitcoin Mining Hardware. This report contains market size and forecasts of ASIC Bitcoin Mining Hardware in global, including the following market information:
Global ASIC Bitcoin Mining Hardware Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global ASIC Bitcoin Mining Hardware Market Sales, 2018-2023, 2024-2029, (Units)
Global top five ASIC Bitcoin Mining Hardware companies in 2022 (%)
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the ASIC Bitcoin Mining Hardware manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global ASIC Bitcoin Mining Hardware Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (Units)
Global ASIC Bitcoin Mining Hardware Market Segment Percentages, by Type, 2022 (%)
BTC
LTC
ETH
Other
Global ASIC Bitcoin Mining Hardware Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (Units)
Global ASIC Bitcoin Mining Hardware Market Segment Percentages, by Application, 2022 (%)
Mining Farm
Mining Pool Service Providers
Global ASIC Bitcoin Mining Hardware Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (Units)
Global ASIC Bitcoin Mining Hardware Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies ASIC Bitcoin Mining Hardware revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies ASIC Bitcoin Mining Hardware revenues share in global market, 2022 (%)
Key companies ASIC Bitcoin Mining Hardware sales in global market, 2018-2023 (Estimated), (Units)
Key companies ASIC Bitcoin Mining Hardware sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
BitMain
Canaan
MicroBT
Ebang
AGMH
Bee Computing
Innosilicon
Outline of Major Chapters:
Chapter 1: Introduces the definition of ASIC Bitcoin Mining Hardware, market overview.
Chapter 2: Global ASIC Bitcoin Mining Hardware market size in revenue and volume.
Chapter 3: Detailed analysis of ASIC Bitcoin Mining Hardware manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of ASIC Bitcoin Mining Hardware in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global ASIC Bitcoin Mining Hardware capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.

1 Introduction to Research & Analysis Reports
1.1 ASIC Bitcoin Mining Hardware Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global ASIC Bitcoin Mining Hardware Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global ASIC Bitcoin Mining Hardware Overall Market Size
2.1 Global ASIC Bitcoin Mining Hardware Market Size: 2022 VS 2029
2.2 Global ASIC Bitcoin Mining Hardware Revenue, Prospects & Forecasts: 2018-2029
2.3 Global ASIC Bitcoin Mining Hardware Sales: 2018-2029
3 Company Landscape
3.1 Top ASIC Bitcoin Mining Hardware Players in Global Market
3.2 Top Global ASIC Bitcoin Mining Hardware Companies Ranked by Revenue
3.3 Global ASIC Bitcoin Mining Hardware Revenue by Companies
3.4 Global ASIC Bitcoin Mining Hardware Sales by Companies
3.5 Global ASIC Bitcoin Mining Hardware Price by Manufacturer (2018-2023)
3.6 Top 3 and Top 5 ASIC Bitcoin Mining Hardware Companies in Global Market, by Revenue in 2022
3.7 Global Manufacturers ASIC Bitcoin Mining Hardware Product Type
3.8 Tier 1, Tier 2 and Tier 3 ASIC Bitcoin Mining Hardware Players in Global Market
3.8.1 List of Global Tier 1 ASIC Bitcoin Mining Hardware Companies
3.8.2 List of Global Tier 2 and Tier 3 ASIC Bitcoin Mining Hardware Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type - Global ASIC Bitcoin Mining Hardware Market Size Markets, 2022 & 2029
4.1.2 BTC
4.1.3 LTC
4.1.4 ETH
4.1.5 Other
4.2 By Type - Global ASIC Bitcoin Mining Hardware Revenue & Forecasts
4.2.1 By Type - Global ASIC Bitcoin Mining Hardware Revenue, 2018-2023
4.2.2 By Type - Global ASIC Bitcoin Mining Hardware Revenue, 2024-2029
4.2.3 By Type - Global ASIC Bitcoin Mining Hardware Revenue Market Share, 2018-2029
4.3 By Type - Global ASIC Bitcoin Mining Hardware Sales & Forecasts
4.3.1 By Type - Global ASIC Bitcoin Mining Hardware Sales, 2018-2023
4.3.2 By Type - Global ASIC Bitcoin Mining Hardware Sales, 2024-2029
4.3.3 By Type - Global ASIC Bitcoin Mining Hardware Sales Market Share, 2018-2029
4.4 By Type - Global ASIC Bitcoin Mining Hardware Price (Manufacturers Selling Prices), 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application - Global ASIC Bitcoin Mining Hardware Market Size, 2022 & 2029
5.1.2 Mining Farm
5.1.3 Mining Pool Service Providers
5.2 By Application - Global ASIC Bitcoin Mining Hardware Revenue & Forecasts
5.2.1 By Application - Global ASIC Bitcoin Mining Hardware Revenue, 2018-2023
5.2.2 By Application - Global ASIC Bitcoin Mining Hardware Revenue, 2024-2029
5.2.3 By Application - Global ASIC Bitcoin Mining Hardware Revenue Market Share, 2018-2029
5.3 By Application - Global ASIC Bitcoin Mining Hardware Sales & Forecasts
5.3.1 By Application - Global ASIC Bitcoin Mining Hardware Sales, 2018-2023
5.3.2 By Application - Global ASIC Bitcoin Mining Hardware Sales, 2024-2029
5.3.3 By Application - Global ASIC Bitcoin Mining Hardware Sales Market Share, 2018-2029
5.4 By Application - Global ASIC Bitcoin Mining Hardware Price (Manufacturers Selling Prices), 2018-2029
6 Sights by Region
6.1 By Region - Global ASIC Bitcoin Mining Hardware Market Size, 2022 & 2029
6.2 By Region - Global ASIC Bitcoin Mining Hardware Revenue & Forecasts
6.2.1 By Region - Global ASIC Bitcoin Mining Hardware Revenue, 2018-2023
6.2.2 By Region - Global ASIC Bitcoin Mining Hardware Revenue, 2024-2029
6.2.3 By Region - Global ASIC Bitcoin Mining Hardware Revenue Market Share, 2018-2029
6.3 By Region - Global ASIC Bitcoin Mining Hardware Sales & Forecasts
6.3.1 By Region - Global ASIC Bitcoin Mining Hardware Sales, 2018-2023
6.3.2 By Region - Global ASIC Bitcoin Mining Hardware Sales, 2024-2029
6.3.3 By Region - Global ASIC Bitcoin Mining Hardware Sales Market Share, 2018-2029
6.4 North America
6.4.1 By Country - North America ASIC Bitcoin Mining Hardware Revenue, 2018-2029
6.4.2 By Country - North America ASIC Bitcoin Mining Hardware Sales, 2018-2029
6.4.3 US ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.4.4 Canada ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.4.5 Mexico ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.5 Europe
6.5.1 By Country - Europe ASIC Bitcoin Mining Hardware Revenue, 2018-2029
6.5.2 By Country - Europe ASIC Bitcoin Mining Hardware Sales, 2018-2029
6.5.3 Germany ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.5.4 France ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.5.5 U.K. ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.5.6 Italy ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.5.7 Russia ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.5.8 Nordic Countries ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.5.9 Benelux ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.6 Asia
6.6.1 By Region - Asia ASIC Bitcoin Mining Hardware Revenue, 2018-2029
6.6.2 By Region - Asia ASIC Bitcoin Mining Hardware Sales, 2018-2029
6.6.3 China ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.6.4 Japan ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.6.5 South Korea ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.6.6 Southeast Asia ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.6.7 India ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.7 South America
6.7.1 By Country - South America ASIC Bitcoin Mining Hardware Revenue, 2018-2029
6.7.2 By Country - South America ASIC Bitcoin Mining Hardware Sales, 2018-2029
6.7.3 Brazil ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.7.4 Argentina ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.8 Middle East & Africa
6.8.1 By Country - Middle East & Africa ASIC Bitcoin Mining Hardware Revenue, 2018-2029
6.8.2 By Country - Middle East & Africa ASIC Bitcoin Mining Hardware Sales, 2018-2029
6.8.3 Turkey ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.8.4 Israel ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.8.5 Saudi Arabia ASIC Bitcoin Mining Hardware Market Size, 2018-2029
6.8.6 UAE ASIC Bitcoin Mining Hardware Market Size, 2018-2029
7 Manufacturers & Brands Profiles
7.1 BitMain
7.1.1 BitMain Company Summary
7.1.2 BitMain Business Overview
7.1.3 BitMain ASIC Bitcoin Mining Hardware Major Product Offerings
7.1.4 BitMain ASIC Bitcoin Mining Hardware Sales and Revenue in Global (2018-2023)
7.1.5 BitMain Key News & Latest Developments
7.2 Canaan
7.2.1 Canaan Company Summary
7.2.2 Canaan Business Overview
7.2.3 Canaan ASIC Bitcoin Mining Hardware Major Product Offerings
7.2.4 Canaan ASIC Bitcoin Mining Hardware Sales and Revenue in Global (2018-2023)
7.2.5 Canaan Key News & Latest Developments
7.3 MicroBT
7.3.1 MicroBT Company Summary
7.3.2 MicroBT Business Overview
7.3.3 MicroBT ASIC Bitcoin Mining Hardware Major Product Offerings
7.3.4 MicroBT ASIC Bitcoin Mining Hardware Sales and Revenue in Global (2018-2023)
7.3.5 MicroBT Key News & Latest Developments
7.4 Ebang
7.4.1 Ebang Company Summary
7.4.2 Ebang Business Overview
7.4.3 Ebang ASIC Bitcoin Mining Hardware Major Product Offerings
7.4.4 Ebang ASIC Bitcoin Mining Hardware Sales and Revenue in Global (2018-2023)
7.4.5 Ebang Key News & Latest Developments
7.5 AGMH
7.5.1 AGMH Company Summary
7.5.2 AGMH Business Overview
7.5.3 AGMH ASIC Bitcoin Mining Hardware Major Product Offerings
7.5.4 AGMH ASIC Bitcoin Mining Hardware Sales and Revenue in Global (2018-2023)
7.5.5 AGMH Key News & Latest Developments
7.6 Bee Computing
7.6.1 Bee Computing Company Summary
7.6.2 Bee Computing Business Overview
7.6.3 Bee Computing ASIC Bitcoin Mining Hardware Major Product Offerings
7.6.4 Bee Computing ASIC Bitcoin Mining Hardware Sales and Revenue in Global (2018-2023)
7.6.5 Bee Computing Key News & Latest Developments
7.7 Innosilicon
7.7.1 Innosilicon Company Summary
7.7.2 Innosilicon Business Overview
7.7.3 Innosilicon ASIC Bitcoin Mining Hardware Major Product Offerings
7.7.4 Innosilicon ASIC Bitcoin Mining Hardware Sales and Revenue in Global (2018-2023)
7.7.5 Innosilicon Key News & Latest Developments
8 Global ASIC Bitcoin Mining Hardware Production Capacity, Analysis
8.1 Global ASIC Bitcoin Mining Hardware Production Capacity, 2018-2029
8.2 ASIC Bitcoin Mining Hardware Production Capacity of Key Manufacturers in Global Market
8.3 Global ASIC Bitcoin Mining Hardware Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 ASIC Bitcoin Mining Hardware Supply Chain Analysis
10.1 ASIC Bitcoin Mining Hardware Industry Value Chain
10.2 ASIC Bitcoin Mining Hardware Upstream Market
10.3 ASIC Bitcoin Mining Hardware Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 ASIC Bitcoin Mining Hardware Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer

 
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