The increase in cryptocurrency mining is attributed to rising adoption of cryptocurrency and total market capital in these digital assets to gain long term profits. Increasing complications in finding new blocks of most popular cryptocurrencies that includes the Bitcoin has led to increased requirement for advanced hashing power, increase in power consumption, and requirement of specific weather conditions to maintain its operability over long durations. These factors in turn have led to significant investments in mining to gain high ROI (within 20 months) and additional income over the life cycle of the systems. According to Coherent Market Insights analysis, in 2016, China and the U.S. accounted for over 70% of the global Cryptocurrency Mining Market, based on the total number of pools across the world.
Prominent Companies in the Cryptocurrency Mining Industry:
1. Hashflare
Hashflare founded in 2004 and it’s headquarters Edinburgh, City of, United Kingdom. The company operates in 60 countries.
2. Genesis Mining
Genesis Mining founded in 1988, and its Headquarters located in Pittsburgh, Pennsylvania, United States. The company operates in 4 nations.
3. Hashing 24,
Hashing 24,, was launch in 2012 and it’s headquarter located Chiyoda City, Tokyo, Japan.it operate over 50 country.
4. Ebot
Ebot was launch in 1993 and it’s headquarter 1993 in Chandigarh India. It operate over 18 country.
5. ViaBTC
ViaBTC Advanced Metallurgical Group was founded 2016 with its headquarters in Guangdong, China s. With businesses in over 40 countries. ViaBTC, the world-leading cryptocurrency mining pool, today launches a new cloud mining service.
6. SlushPool
SlushPool was launch in 2010. And its headquarter - Prague, Czech Republic.. It operate over 70 country.In 2023 Norsk Hydro ASA has relaunched a tender offer process for the acquisition of 100 percent of the shares of the Polish recycler Alumetal S.A
7. F2Pool
F2Pool founded in 2013 and it’s headquarter located Beijing, China.It operate over 70 country. In 2023 comprehensive mining pool for Bitcoin and cryptocurrencies, f2pool, has launched an Ordinals auction
Definition- Cryptocurrency mining requires network of several computers for verification of the transaction record, known as the blockchain.
