The leadership in the market of mining equipment manufacturers is held by Bitmain. However, the company is under serious pressure from several large competitors.
One of them MicroBT – recently spoke about the sale last year of about 600 thousand miners from its flagship line of WhatsMiner M20. The top manager of the mining company reported the results during a joint online presentation with the Chinese mining pool Poolin in the WeChat messenger.
Against the background of bitcoin exchange rate growth last year, the amount of computing power more than doubled. Based on the average processing power of MicroBT miners, it is possible to calculate that approximately 50% increase in the hashrate in the network of the first cryptocurrency is associated with this company. Vincent Zhang did not specify the average cost of miners, because it can fluctuate depending on changes in the value of BTC. However, the company’s revenue over the past year may amount to hundreds of millions of dollars.
Success has enabled MicroBT to significantly strengthen its market position. Accordingly, they affected the company’s nearest competitors. As the TokenInsight analytical company noted in the annual report, the bitcoin mining market is in the hands of four manufacturers: Bitmain, MicroBT, Ebang and Canaan. Now they control about 95% of computing power, and by the end of the year this figure can grow to 98%.
According to the information voiced by Vincent Zhang, MicroBT may now account for approximately 30% of the bitcoin network hashrate. According to a recent assessment made by the research cryptocurrency company Coinshares, the share of the market leader Bitmain fell from 75% in 2018 to 65%. Canaan, which entered an IPO last November, indicated a 20% market share for the first half of last year. More complete data on the results of Canaan last year is not yet available.
Despite a decrease in market share, Bitmain holds the first place among manufacturers of mining equipment – thanks to the successful sales of the AntMiner S7 model in 2015-2016 and S9 models in 2017-2018.
One of the main problems of all the giants of the mining market is the upcoming bitcoin halving. In May, the reward for the mined block will be halved. New conditions will require new equipment, more powerful and more modern.