Blockchain Mining Market Data

1. Blockchain Mining Market Data

The global blockchain mining market continues to grow, with PoW remaining the core driving force.

According to market research, the global blockchain mining market reached $2.5 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12%, reaching $4.4 billion by 2028. While the blockchain industry is exploring more environmentally friendly and efficient consensus mechanisms such as PoS (Proof of Stake) and DPoS (Delegated Proof of Stake), PoW (Proof of Work) still holds a dominant market share.

• PoW projects account for over 70% of the mining market, with BTC (Bitcoin) continuing to lead the global mining space. However, as miners seek new growth opportunities, innovative PoW projects like Alephium (ALPH) are emerging as new drivers of market expansion.

• PoW’s decentralization, high security, and censorship resistance make it the most trusted consensus mechanism. In response to fluctuations in miner income driven by Bitcoin’s halving cycles, miners are actively exploring low-cost, high-reward emerging PoW projects to diversify their income sources.

2.Mining Market Segmentation Trends:

• BTC Miner Migration is Significant: The global Bitcoin mining community is vast, but rising mining difficulty and increasing electricity and equipment costs are pushing miners to seek more profitable, cost-effective alternatives.

• Green Mining is Becoming Mainstream: As global carbon emission regulations tighten, miners are increasingly drawn to low-energy, eco-friendly blockchain projects, driving more interest toward projects like Alephium that adopt energy-efficient PoW mechanisms.