Industry information

Industry Overview

The mining machine industry mainly includes ASIC mining machines used for cryptocurrency mining and traditional mining machinery. With the vigorous development of the cryptocurrency market, the demand for mining machines is also rising. It is predicted that by 2028, the market value of the mining machine industry will reach 12 billion US dollars, showing strong growth potential.

Market Size and Growth

1.Market Size: The global ASIC mining machine market was approximately 46.2 billion yuan in 2023 and is expected to grow continuously in the future, with the market size approaching 38.3 billion yuan by 2030.

2.Chinese Market: China holds an important position in the global ASIC mining machine market, with a high market share and a fast growth rate. Despite facing policy restrictions, Chinese manufacturers still maintain their competitiveness in technology and the market.

Major manufacturers

1. Market leaders: Bitmain, Canaan Creative and MicroBT are the top three global mining machine manufacturers, collectively holding 95.4% of the market share. These companies not only control the production of mining machines but also have their own mining pools, which improves mining efficiency and revenue stability.
2. Technological innovation: With the application of technologies such as the Internet of Things and artificial intelligence, the mining machine industry is transforming towards intelligence, which has improved production efficiency and safety.

    

Future development trends

1. Technological iteration: The mining machine industry will continue to develop towards intelligence, adopting new technologies such as driverless mining trucks and intelligent drilling rigs to improve production efficiency and resource recovery rates.
2. Changes in market demand: With the advancement of the new energy revolution, the demand for strategic minerals such as lithium, cobalt, and nickel has surged. Mining enterprises are extending the industrial chain and laying out in fields such as battery materials to enhance their ability to resist risks.
   Policy impact: The China-US trade war and related policies will affect changes in the mining machine supply chain, prompting Chinese mining machine manufacturers to set up manufacturing factories in the United States to avoid tariffs.

    

Conclusion

Driven by both technological innovation and market demand, the mining machine industry is in a phase of rapid development. In the future, with the intensification of global resource competition and changes in the policy environment, the mining machine industry will face new opportunities and challenges.