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Industry Landscape
The cryptocurrency mining industry, particularly Bitcoin mining, is experiencing significant growth and evolution. Driven by increasing institutional adoption and retail interest in digital assets, it is characterized by large-scale operations, a move towards vertical integration, and a focus on energy efficiency and grid support. Regulatory landscapes are still forming, and the industry is constantly adapting to technological advancements and fluctuating cryptocurrency prices. Innovation in cooling solutions and renewable energy integration are key trends.
Total Assets Under Management (AUM)
Global Bitcoin Hash Rate in United States
~Not directly available for US only, but US accounts for approx. 37.8% of global hash rate as of July 2023.
(104.0% (YoY as of July 2023) CAGR)
The global Bitcoin hash rate has seen explosive growth over the past year. This increase is primarily driven by: 1. New, more efficient mining hardware coming online. 2. Increased mining activity due to Bitcoin price recovery. 3. Expansion of large-scale mining facilities.
Total Addressable Market
3.3 billion USD