Analysts at Bernstein highlight a $20 billion opportunity in the Bitcoin mining hardware market, driven by new U.S. initiatives.
Points
- $20 billion market opportunity in Bitcoin mining hardware
- Dominance of China-based companies like Bitmain
- New U.S. competition from Block and Auradine
- Potential growth and diversification in the mining supply chain
The Bitcoin mining chip and hardware industry represents a $20 billion total addressable market over the next five years, according to analysts at Bernstein. Historically dominated by China-based companies like Bitmain, the market is now seeing new competition from U.S. firms like Block and Auradine.
Block, co-founded by former Twitter CEO Jack Dorsey, recently announced an agreement to supply Core Scientific with new 3-nanometer ASIC mining chips, valued at $300 million. Auradine, backed by Bitcoin miner MARA, also shipped new, efficient mining models and closed an $80 million Series B round in April.
The analysts expect 15.30% growth in annual mining equipment demand, driven by increasing network hashrate and the need to replace outdated equipment. This could lead to annual hardware revenue of approximately $3.5 billion.
解説
- The U.S. market for Bitcoin mining hardware is poised for significant growth.
- New competition can reduce China’s dominance and lead to innovation in mining technology.
- Increased efficiency and diversification in the mining supply chain are expected outcomes.