Experts predict the growth of the asic-miner market over $1.7 billion

  • Elena Klimovich
  • 19:00 Jan 30, 2023
  • 227
Experts predict the growth of the asic-miner market over $1.7 billion

Based on a study by Allied Market Research, the average growth of 12.6% in the market for mining devices will result in a market of $1.7 billion or even more in 2031.

The main drivers cited were the gradual adoption of bitcoins around the world, as well as the intent of new facilities, which were introduced by major players in the cryptocurrency mining industry.

The Allied Market Research report indicated the particular significance that the pandemic had on the growth of the digital asset sector:

The situation the world found itself in because of Covid-19 had a positive impact on the scale of cryptocurrency adoption when extreme conditions struck. The adoption of BTC by some financial institutions has also been helpful.

Key players in the mining industry included:

As for the countries that saw the greatest growth, the clear leader was North America, where there was a steady demand for technology from the commercial sector. This has led to the fact that the market of asic-mainers there is actively expanding.

Another very important indicator, according to experts, is that the Fear & Greed index for BTC managed to reach the greed zone for the first time since March 30, 2022.

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