Cryptocurrency Mining Market Worldwide Top Players Revenue Analysis of Hashflare, Genesis Mining, Hashing 24, Ebot, ViaBTC

Cryptocurrency mining requires network of several computers for verification of the transaction record, known as the blockchain. The miners in this computationally intensive process are offered a share of transaction fees and gain a higher probability of finding a new block through contributing high computational power.

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Emergence of digital currencies such as Bitcoin, Ethereum, and Bitcoin Cash has led to huge investments by companies and this is expected to aid in substantial growth of the market in the near future.

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.

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.

According to Blockchain Luxembourg S.A., on December 12, 2017, the proportion of transaction fees as a percentage of total bitcoin mining was reported to be 9.12%. Moreover, according to Global Cryptocurrency Benchmarking Study - 2017 by Cambridge Centre for Alternative Finance, it was projected that the transaction fees is expected to reach 10% by the start of 2018, owing to decreasing block rewards.

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Key pool operators in the global cryptocurrency mining market include AntPool, BTC.com, ViaBTC, BTC Top, SlushPool, and F2Pool among others. These aforementioned companies accounted for over 75% of the industry as of December 2017. Chief players offering remote mining service contracts include Hashflare, Genesis Mining, Hashing 24, Ebot, ViaBTC, and others.

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