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Technavio Report Suggests Mining Hardware Market to Grow by $2.8 Billion in Three Years

As the craze and the mainstream adoption for the major crypto assets continues to grow exponentially, the latest report from the digital tokens mining industry revealed that the market could grow to $2.8 billion in the next three years.

Technavio forecasted a massive growth primarily because of the potential increase in the mining industry triggered by a surge in mining pools and product launches. The report further added that the US and Canada could benefit from the growing demand for hardware in the mining market.

Even though critics have taken a hit at the environmental impacts and energy usage in mining, the market is coming up with renewable and environment-friendly mining methods. Besides, there is a growing push for clean-energy mining, but these plans are yet to see the light of day.

One such ambitious project is being undertaken by Argo, which is working on its clean-energy mining pool. In addition to that, ARK and Square Investments have said that they are willing to fund BTC in a bid to boost environment-friendly crypto mining. Their announcement came after a study that revealed that a shift to clean energy could lower the prices and encourage mainstream adaptation.

Despite the growing government clampdown on crypto mining, it is not going to slow down anytime soon. Considering the extraordinary performance in the digital market and growing adaptation, the projected growth is likely to happen.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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