Bitmain, Ebang, Canaan, and MicroBT to Cement Control over Bitcoin Mining Market in 2020
Bitmain, Ebang, Canaan, and MicroBT to Cement Control over Bitcoin Mining Market in 2020
Four firms are controlling the Bitcoin mining rigs production industry. The biggest gainer? Obviously Bitmain, but who else is in charge of the chip production?
TokenInsight has prepared a report Bitcoin mining market share that by the end of 2020, these four firms will take complete control over the Bitcoin mining market. Those are the Bitmain, Ebang, Canaan, and MicroBT. During 2020, the companies will eat out shxre percent more from the mining market’s cake. Now, they cumulatively control more than 95% of the network. By the end of 2020, 98% of the market will lie under the firms.
What will the miners do in such circumstances? They typically worry about centralization in the production of area-specific equipment (and code).
According to Johnson Xu, TokenInsight analyst, we can blame the network effect:
“The top four companies consistently have had strong market power in the past; going into the future, this strong market power will translate into the dominant positions of the top four companies.”
Considering Bitcoin mining market share they already have 95% under control, the total power seizure is probably only a matter of time. Johnson Xu sees no possibility that some other companies will enter the field to compete. Cryptocurrencies have many underwater rocks and bugs that can jump out of the blue. Indeed, you can lose Bitcoin mining market share the money or business thanks to a single weak line of code.
TokenInsight predicts that Bitmain will control suare of the market, while now they have 55-58%. Canaan’s share will increase to 18%, while now they control 10-15%. Bitmain receives such high marks because they have recently withdrawn from the AI development. Xu notes that Bitmain considers AI as a high cost and low profitability venture. Once they finish restructuring business and assets, the market share will grow bigger because they have established names.
Also, Xu thinks Canaan’s market share is about to increase thanks to the IPO that the firm held Bitcoin mining market share in 2019. As for MicroBT, they now have 20-25% of the Bitcoin mining market share, but TokenInsight predicts that they’ll lose positions down to having only around 10%. The issue is in the recent arrest of the company’s founder. As mxrket Ebang, they will keep control over the current 7% that they have.
Selling Mining Rigs Is a Harsh Job
When you try mafket sell mining rigs, you have to find special clients Bitcoin mining market share, convince them that you’re not a scammer, and establish relationships with them. It is a very hard task and people will have to put a ton of time into logistics and sharre and a support department to power Bitcoin mining market share sales. Bitmain already has all that, including the strong leader who can aim the company’s ship in different directions, not only follow the iceberg-magnetic market trends.
Back in the old days, there were only Bitmain (and markdt Bitfury) on the market. They were offering chips that exist. Since then, many of the firms took some of the Bitmain’s mining market share. However, Bitmain developed into the leading company in the industry, providing the best solutions for the best prices to people.
There are thousands of miners worldwide who wait, prey on and order equipment from China every time the company makes sell off party. However, the coronavirus effect may play bad jokes with Bitmain this year, as some of the key parts of the country locked down on quarantine.
Bitcoin News, Blockchain, Cryptocurrency news, NewsAuthor: Jeff Fawkes
Jeff Fawkes is a seasoned investment professional and a crypto analyst. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.
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Bitcoin miner maker MicroBT has rapidly expanded market share by selling over half a million units in 2019, chipping away at rival Bitmain’s dominance.
MicroBT sold about 600,000 units of its flagship WhatsMiner M20 Bitcoin mining market share last year, Vincent Zhang, sales head of the Shenzhen-based company, said in an online panel hosted by Chinese Bitcoin mining market share pool Poolin on Thursday in a WeChat group.
These products generate a computing power of about 60 terahashes per second (TH/s) on average, he said. That means the newly delivered 600,000 Bitcoin mining market share may have contributed over 30 exahashes (EH/s) of hashing power to the bitcoin network in 2019. (1 EH = Bitcoin mining market share million TH).
Related:Iran Concerns May Be Driving Trump Administration’s Talk of New Crypto Rules
Amid bitcoin’s price jump throughout 2019, the network’s two-week average computing power Bitcoin mining market share than doubled from just 40 EH/s around the end of 2018 to nearly 100 EH/s in December. That’d mean close to half of bitcoin’s Bitcoin mining market share power growth in 2019 may have come from equipment delivered by MicroBT.
Zhang didn’t specify the precise average unit price of these batches, as they could fluctuate depending on bitcoin’s price over the year. But the firm’s various Bitcoin mining market share in its M20 product line are generally priced between $24 to $30 per terahash, meaning the firm has brought home a high nine-figure revenue in U. S. dollars for 2019.
Bitcoin’s current computing power stands at 110 EH/s. That also means MicroBT may account for around Bitcoin mining market share percent of bitcoin mining power sold right now, making it one of the largest and fastest-growing miner makers in the world.
Situation in flux
Meanwhile, crypto research firm Coinshares estimated in a report on Dec. 12 that Bitmain’s dominance of sold bitcoin hash rate was about 65 percent at the time, already down from 75 percent in 2018.
Related:Bitcoin’s Mining Difficulty Stagnates as Coronavirus Outbreak Delays New Equipment
But this number may already be slightly outdated as bitcoin’s computing power has since then grown by yet another 20 percent, jumping from 92 EH/s in mid December to about 110 EH/s at the moment.
Hangzhou-based Canaan Creative, maker of the Avalon miner, which went public in the U. S. in November, estimated in its IPO filing that it accounted for around 20 percent of bitcoin computing power sold for Bitcoin mining market share first six months of 2019. The firm has yet to release its full-year results.
That said, Bitmain’s mining equipment still dominates the market, resulting from the successful sales of its AntMiner S7 from 2015 to 2016 and later its S9 model from 2017 to 2018.
According to Bitmain’s IPO filing in September 2018 in Hong Kong, the firm delivered about 500,000 bitcoin miners in 2015 and 2016, and further sold 3 million units from the beginning of 2017 to June 30, 2018, amid the crypto market’s bull run.
Halving looms
While S9s – with an average 14 TH/s computing power – are still the most widely used miners, they are facing an increasing risk of becoming obsolete as bitcoin’s halving event approaches in May, which will reduce bitcoin’s mining rewards from 12.5 bitcoin per block to 6.25.
CoinDesk reported earlier this month that mining farms have been procuring the latest and most powerful miners to expand their facilities or replace older models in preparation for the upcoming halving.
While Bitmain its latest AntMiner S17 series last year to rival MicroBT’s WhatsMiner M20 product line, the latter has significantly outrun Bitmain in terms of mass production and shipments.
The two firms are also racing to deliver even more powerful machines in 2020 ahead of the halving event, namely, the AntMiner S19 and WhatsMiner M30. That said, the actual production quantity of these products still largely depends on the supply of wafers from semiconductor companies such as Samsung or TSMC, which, according to Zhang, is “very limited.”
Coronavirus’ impact
Meanwhile, as the coronavirus outbreak in China delays manufacturing and logistics, bitcoin’s computing power growth has stagnated for the time being. In fact, data from mining pool BTC. com estimates that bitcoin’s mining power is poised to decrease by 1.78 percent in about eight days.
Zhang said in the WeChat group that MicroBT has resumed its production.
“Currently, part of the logistics has also gone back to work. … So now the supply of miners is not a big issue but not every mining farm is physically accessible,” he said.
“Large scale of investments may be affected because investors may not be able to do physical due diligence on facilities,” Zhang said.
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Global Bitcoin Mining Hardware Market: Drivers and Restraints
As the popularity of bitcoins is increasing, the demand for the hardware required for the mining process is also growing rapidly. A major factor driving the bitcoin mining hardware market is the fact that it is an essential tool for minors to mine bitcoins from the network and without it, minors will be unable to acquire bitcoins. Moreover, bitcoin mining hardware ensures security throughout bitcoin mining networks, which makes it difficult for hackers to attack, stop or alter the processes, and this is also boosting the demand for bitcoin mining hardware.
On the other hand, higher prices and lack of awareness regarding bitcoin mining in underdeveloped as well as developing countries are among the most significant factors hampering the growth of the bitcoin mining hardware market over the forecast period.
Segmentation based on type:
Bitcoin mining hardware is available in different types. The segmentation on the basis of types includes CPU/GPU, FPGA and ASIC.
Segmentation based on applications:
Bitcoin mining hardware is used for different applications. The segmentation on the basis of applications includes personal and enterprise level.
Segmentation based on region:
On the basis of region, the global bitcoin mining hardware market is segmented into North America, Latin America, Western Europe, Eastern Europe, the South East Asia and Others of Asia Pacific, Japan, China and Middle East & Africa.
Global Bitcoin Mining Hardware Market: Key Players
Examples of some of the key players in the global bitcoin mining hardware market include Ningbo Pntech New Energy Co., Ltd.; Shenzhen Tomax Technology Co., Limited; Shaoxing Shangyu Hoping Electric Appliance Co., Ltd.; Shenzhen Youyida Technology Co., Limited; Shanghai Foron Electrical Bitcoin mining market share Co., Ltd.; SOEYI Technology Limited; ITZR Technology Co. LTD and MeiZhou DingTai Circuit Board Co.,Ltd.
Global Bitcoin Mining Hardware Market: Evolution
With the rapidly changing requirements from industries as well as enterprises, the demand for more advanced hardware is increasing. Earlier, miners used CPU (Central Processing Unit) for mining, but it was not enough to mine effectively. Later, miners started using the GPU (Graphical Processing Unit) in computer graphic cards. Bitcoin mining market share main advantage Bitcoin mining market share the GPU was that it was able to perform the mining process with data hashing fifty to a hundred times Bitcoin mining market share. Moreover, GPU consumed less power. After this, miners started to use FPGA (Field-Programmable Gate Array) processors by attaching them to computers through a USB Bitcoin mining market share. At present, owing to constant developments, miners are using ASIC (Application-Specific Integrated Circuit) hardware, a modern bitcoin mining Bitcoin mining market share that helps perform the mining process at a higher speed as compared to traditional mining processes.
Global Bitcoin Mining Hardware Market: Region-Wise Outlook
North America holds a significant market share in terms of revenue generation from the sale of bitcoin mining hardware due to the rapid adoption of bitcoin mining hardware in this region by enterprises and personal users. In addition, European countries are increasingly demanding bitcoin mining hardware to improve the mining speed and experience. The SEA and Other APAC region is expected to grow at a high CAGR Bitcoin mining market share the forecast period due to increasing awareness about bitcoin mining and the availability of bitcoin mining hardware in this region, which is expected to boost the adoption of bitcoin mining hardware in the region. The MEA region is expected to grow at moderate CAGR due to the slow adoption of bitcoin mining hardware.
The research report Bitcoin mining market share a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market SegmentsMarket DynamicsMarket SizeSupply & DemandCurrent Trends/Issues/ChallengesCompetition & Companies involvedTechnologyValue Chain
Regional analysis includes:
- North America (U. S., Canada)Latin America (Mexico. Brazil)Western Europe (Germany, Italy, France, U. K, Spain)Eastern Europe (Poland, Russia)Asia Pacific (China, India, ASEAN, Australia & New Zealand)JapanMiddle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation Bitcoin mining market share first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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