Global ASIC Bitcoin Mining Hardware Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029

Global ASIC Bitcoin Mining Hardware Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029

According to our (Global Info Research) latest study, the global ASIC Bitcoin Mining Hardware market size was valued at USD 8858.9 million in 2022 and is forecast to a readjusted size of USD 16090 million by 2029 with a CAGR of 8.9% during review 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 is a detailed and comprehensive analysis for global ASIC Bitcoin Mining Hardware market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2023, are provided.

Key Features:

Global ASIC Bitcoin Mining Hardware market size and forecasts, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2018-2029

Global ASIC Bitcoin Mining Hardware market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2018-2029

Global ASIC Bitcoin Mining Hardware market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2018-2029

Global ASIC Bitcoin Mining Hardware market shares of main players, shipments in revenue ($ Million), sales quantity (Units), and ASP (US$/Unit), 2018-2023

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for ASIC Bitcoin Mining Hardware

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global ASIC Bitcoin Mining Hardware market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include BitMain, Canaan, MicroBT, Ebang and AGMH, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.

Market Segmentation

ASIC Bitcoin Mining Hardware market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
BTC
LTC
ETH
Other

Market segment by Application
Mining Farm
Mining Pool Service Providers

Major players covered
BitMain
Canaan
MicroBT
Ebang
AGMH
Bee Computing
Innosilicon

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe ASIC Bitcoin Mining Hardware product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of ASIC Bitcoin Mining Hardware, with price, sales, revenue and global market share of ASIC Bitcoin Mining Hardware from 2018 to 2023.

Chapter 3, the ASIC Bitcoin Mining Hardware competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the ASIC Bitcoin Mining Hardware breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and ASIC Bitcoin Mining Hardware market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.

Chapter 12, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War.

Chapter 13, the key raw materials and key suppliers, and industry chain of ASIC Bitcoin Mining Hardware.

Chapter 14 and 15, to describe ASIC Bitcoin Mining Hardware sales channel, distributors, customers, research findings and conclusion.